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XLF is testing a key resistance line this morning. How XLF handles this line in the sand will have much to say about the Macro Puzzle and which way to overweight, when it comes to portfolio construction in the near future.
PFF is facing an almost identical sloping resistance line this morning. How the financials handle these lines will have a ton to say in regards to the 800 pound resistance line in the 500 index (see 800 pound post)
It has paid to own and overweight towards the financials of late. XLF and PFF HAVE to take out these line for this trend to continue!