XLF: the rally takes a breather
XLF slips 1.2% after a seven-week rally, but the trend holds
Our view last week
After a quiet week, buyers step back in force on XLF, the US financial sector ETF: buying volume jumps to 83% of the weekly tape and price returns to the edge of its all-time high, just a hair below the record. ADX climbs toward the 24 mark - the trend is gaining conviction - while the weekly RSI, at 72, flags an already stretched tape. The trade, open 17 weeks, is up 10.9%.
This week's summary
XLF's seven-week rally, the US financial sector ETF, takes a pause: the latest week closes down 1.2%, with sellers turning slightly dominant on the tape. The weekly RSI cools from a stretched level, yet ADX keeps climbing for a tenth straight week: the trend holds through the pullback. The trade has been open 18 weeks, up 9.6%.
IQS Phase
57
ordinary
Signal Strength
8
low · fading
Sizing
MINIMUM
Ranking
#166 / 167
US stocks in progress
Trade P&L %
+9.63%
from signal to date, no stop loss
Rank position
ranks 166th among the 167 Longs already running for US stocks in our ranking, with a signal strength of 8 out of 100.
Sector context
SectorETF Settoriale
Benchmark ETFXLF
Sector regimein positive regime
Performanceweekly -1.17% · monthly +2.55%
XLF belongs to the etf settoriale sector (reference ETF XLF). The sector is classified in positive regime according to our weekly reading.
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