Last Updated April 30, 2019
Simple put: either the rally since the March 2009 low has topped or there’s one more impulse move higher left and which is currently underway. A break below $22 will confirm the former with a first serious warning on a break below $25; while a move above the ATH confirms the latter. As you can see there are simple enough Primary waves in place to call this entire rally as complete so caution is at this stage advised. The daily chart – not shown- is a bit unclear as well as there’s no real impulse up off the Dec ’18 low. Thus based on the above price levels, XLF bulls can set stops accordingly depending trading/investing time-frame.