The Traderszone Network

Published in TZ Latest News 26 September, 2016 by The TZ Newswire Staff

XLF SCTR Plummets To Bottom Quartile On DB News

The news of Deutsche Bank (DB) breaking well below the Brexit lows can not be comforting for the broader financial community. Today the XLF lost its momentum and dropped to the bottom quadrant. While this is a weekly chart, the first day of the week sent a chilly message. We broke to 2-month lows today and this week is important as it will mark an end-of-quarter and end-of-month close. Having a very weak financial chart is troublesome and the SCTR suggests some caution is warranted after the price failed to breakout above resistance.

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