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April 21st, 2020: XLF 60-min Chart Update

Posted by pugsma on April 21, 2020

Financials (XLF) have only displayed 3-wave up from 17.49 to 23.66.  Thus, XLF looks like it will need to break below 17.49 to complete major [5]-PC-C2 (primary red count).  This would make the Financials a lagging index behind the SP-500, Nasdaq and DJIA-30, which have already completed their respective C2 lows on March 23rd, 2020.

If the XLF can hold 21.06, then a 5th wave push up above 23.66 is possible per the alternate (blue) count for major [1]-P1-C3.

XLF 60-min chart:

XLF Technical Analysis

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