Financial ETFs Range Bound

10/21/2009 2:52 pm EST

Focus: ETFS

Thomas Aspray

, Professional Trader & Analyst

chart
Click to Enlarge

Both the banking sector ETF (KBE) and its financial sector counterpart (XLF) made new highs last week, but remain in broad, megaphone-shaped trading ranges. These could be continuation patterns, but the alternative, especially for XLF, is more bearish and allows for a sharp downside break. Key support levels are $21.45 for KBE and $13.90 for XLF.

  By clicking submit, you agree to our privacy policy & terms of service.

Related Articles on ETFS

Keyword Image
Safe Money's Defensive Moves
12/05/2018 5:00 am EST

This stock market is flailing around like a fish out of water, with whipsaws increasing every week, ...