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Financials Break Down

|Includes: Financial Select Sector SPDR ETF (XLF)

Well, The NYSE Financial Index has broken down. I honestly don't really know what to make of it, however, as the XLF financial ETF is still above its respective multi-month lows. This divergence makes me wonder if it may turn out to be a false breakdown but as I tweeted earlier, "stocks SHOULD be able to rally here. [It] says much that they can't seem to pull it off."

 

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