Financial Select Sector SPDR
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|It was the negative week for the Financial Select Sector SPDR (XLF). During the week, the XLF dropped -0.69 points, or -2.58%, and closed at 26.09 on Friday, November 10, 2017. Weekly volume was -8% below average. |
Long-term trend: [See XLF long-term trend chart]
A long-term downtrend had started on July 23, 2015 at 25.62 and reached 18.52 on August 24, 2015. XLF lost 7.10 points, or 27.71%, in 4 weeks. The chart has formed a Rectangle chart pattern. The downtrend resistance line (16.41) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
Medium-term trend: [See XLF medium-term trend chart]
A medium-term uptrend had started on September 27, 2016 at 18.94 and reached 26.93 on November 2, 2017. XLF gained -7.99 points, or -42.19%, in 57 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (24.94) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
Weekly Technical Indicators: [See XLF weekly technical indicators chart]
Weekly Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since September 22, 2017. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
Short-term trend: [See XLF short-term trend chart]
A short-term uptrend had started on September 7, 2017 at 23.79 and reached 26.93 on November 2, 2017. XLF gained -3.14 points, or -13.20%, in 56 days. The price is now at the 26.75% retracement level.
Daily Technical Indicators: [See XLF daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since October 27, 2017. The distance between MACD and the signal line is near its high and getting bigger.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.