Thursday, December 22, 2011
SPDR Financial ETF
On Monday Dec 19th a chart was posted showing that the 'financials' had reached a 'decision point' The chart is replicated below with a parallel support line drawn that demonstate how prices found a low at the blue circle. This chart was based upon the September-October rally.
The lower chart is based on the October decline and projects the geometry ahead which will possibly demarcate the character of the current rally.
It is quite possible that a double top around $13.50 will be another decision point for the financials.