"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Tuesday, February 9, 2010

US Financials - A Sad Picture

This is a chart I originally did as XLF was breaking up from the downtrend line.  This demanded that Fib retrace levels be illustrated to see where hope and greed might abort.  Well, look at this pathetic picture.  The only thing added today is the red box showing some enthusiastic downside volume.  This chart is disgusting.