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April 18, 2006
Finance SPDR (XLF) Holds Support
We have already see breakdowns in interest rate sensitive ETFs such as the Utility SPDR (XLU), Homebuilders SPDR (XHB) and REIT iShares (ICF). However, the Finance SPDR (XLF) held support from its March low and this is keeping the S&P 500 relatively firm. The stock consolidated the last three days and the next move will heavily influence the S&P 500. A break below 32.3 would be bearish and a break above 32.8 would keep the bull alive.
Posted by Arthur B. Hill at April 18, 2006 10:28 AM