Watching The Financials

Below is a 30 minute chart of the XLF. As you can see we've been in a trading range for the past month or so. There's a key level of support around $11.50 which it is fastly approaching. It's held around $11.70 today and I thought about getting long there but never did. It looks like this thing want's to break down so i'll be watching it closely the last hour. I think if we can hold the $11.50 area on Monday then it would be a pretty enticing long position. If we break below that level however, then look out below. This thing could easily be at $9.00 in a couple of days.


30 Minute XLF