Those Financials Sure Look Cheap
It seems that, everywhere I look, I keep stumbling across articles and charts of the financial sector. Lately there's been a lot of talk about the golden cross in the markets, and I've seen it mentioned that the moving-averages are suppressing the advance in the financials. So, I pulled up a longer-term chart of the Financial Select Sector SPDR Fund ETF (XLF) to see how those moving averages looked.
XLF -- Monthly Source: Investools.com View Chart » View in New Window »The 200-bar moving average comes in just above the current price area, and it coincides with the resistance zone. That's about 3.5% higher than current prices, so I guess the jury is still out as to whether it will keep prices depressed. One thing we can say with authority though: It's not as if folks are stumbling all over themselves to buy the financials....504 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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