If this massive top in the XLF financials ETF completes, we could be in for a very hard and fast fall.
From the chart, we have been in a very tight trading range for nearly 1 year – bouncing back and forth. I don’t think we will sell off from here as the general markets are already a little over-sold. BUT, once quick bounce could turn into the shorting opportunity of a lifetime.
The next closest support level isn’t until $11.00. Just something to think about before you go long. You will thank me later.
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