XLF (financial sector ETF) has hit & sliced right thru my initial price target (from 2/10) today with KRE (regional bank sector) falling even harder as regional bank SIVB (SVB Financial Group) takes aggressive measures to shore up its balance sheet. While this could prove to be a one-day wonder, it also has the potential to be the catalyst to send the indexes back down below the key support levels (200-SMAs, primary downtrend lines, etc..) as early as next week. Previous (Feb 10th) & updated daily chart of XLF below.
XLF Financial Sector 1st Target Hit & Still Going
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