Wednesday, April 15, 2009
XLF is overdone - stick a fork in it.
Looks pretty similar to Dec/Jan IMO. Fake out sell signs to continue overbought situation. Get the short squeeze. Last few days of big up volume for the suckers to come in and BAM! This time the indicators are even more ripe and the rising wedge formation is much better. I'm looking for a fall to the 50dma and 50% retrace and will regroup there.