XLF Weekly: Grind Back Toward All-Time Highs During Holiday-Shortened Week

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About: Financial Select Sector SPDR ETF (XLF)
by: Sharedata Futures
This article is exclusive for subscribers.
Sharedata Futures
Research analyst, commodities, ETF investing
Summary

Buy-side breakout through last week’s resistance to 30.15s in Monday’s auction.

Pullback in Tuesday’s auction to test the breakout is met with buying interest as price discovery higher developed to 30.24s into week’s end.

Bullish breadth trending higher.

This week’s auction saw price discovery higher to 30.24s, testing the all-time high resistance area.

In this article, we examine the significant weekly order flow and market structure developments driving XLF's price action.

The highest probability path for this week, based on market structure, was for price discovery higher.