Member @lkeno requested analysis on XLF as well as VXX in the trading room. As XLF (Financial Sector ETF) is still an Active Trade I'll start there & do a follow-up post on VXX & the VIX.
XLF has traded in a well-defined sideways range since hitting the first price target back on March 27th. The next sell signal to come on a break below the bottom of the range while an impulsive break & daily close above would be bullish. Based on the length of consolidation, as extended periods of consolidation often act as coiled springs, building energy for an impulsive break in either direction, my expectation now is for a more powerful thrust down if the range breaks to the downside. As such, I may revise T2 to the 21.80ish support level & possibly add a 3rd target just above 21.00. The PPO signal line (9-ema) still below the zero line, confirming a bearish trend since the late March cross below. Also note the RSI struggling with the 50 level, which often acts as support & resistance when from tested from above & below.