NFTRH+; A Sector Breaking Above key Resistance

Backing out the fact that the interest rate backdrop will always be in play with the Financials, taking the chart of XLF at face value we have a breakout in progress. It is not official (i.e. it could well be a whipsaw) but if it clears and holds this resistance zone XLF would be yet another sector targeting its January highs. Informally, the 28 area can be used as a mental stop loss on that scenario.

Personally, I am going to take a position and remain aware of that general area and also long-term yields.

A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the buy, sell, stop parameters are already noted. They are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason), which is something I often do as a trader. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.