- The triangle ABC contained price except for the brief violation at the November low where prices found support at the vesica piscis.
- Prices rallied to resistance at the BC squaring vector. This is coincident with the intersection of the two circles in early December
- Prices recently broke below the base of the triangle AC.
- As XLF approaches point C a resolution to the intermediate trend should occur.
- The inevitable break of the circle this week will determine the trend.
Monday, December 19, 2011
SPDR Financials Approaching a Decision Point
The Chart below is based upon the 'root' AB.