etfmsolutions: XLF Prospects...02.23.17

Thursday, February 23, 2017

XLF Prospects...02.23.17

Following yesterday's QQQ posting here is the current technical view of the financial sector using XLF. We are seeing a weakening in momentum on the VDX and the Ponzo forecast is nowhere near as enthusiastic as either the QQQ or the SPY posted on Tuesday. The financials have had a strong recent run up and may have gotten ahead of themselves fueled by anticipation over Trump's upcoming tax program. We may see further price erosion tomorrow based solely of typical Friday weakness but next week's price action will be critical to the survival of the current bullish trend.

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