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Over the past two years, when XLF hit a certain resistance line, financials and SPY took a breather. XLF is nearing channel and Fibonacci resistance at (2) in the above chart.
A breakout above resistance at (2) would make Banks and the S&P 500 feel even better than they do now!
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The above chart reflects many investors are feeling good about Financials right now as optimism is very high, as it is nearing the top of its channel. S&P 500 owners would feel a ton better if XLF could break resistance at (2) in the top chart!
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Screw the banks. Screw the banker scum. In a just world, they’d all be crushed to dust, not bailed, given interest free money, and afforded immunity from prosecution.