Top 5 Technical Developments for 2012 - Number 4 - Finance SPDR (XLF) Starts Strong and Finishes Strong

Arthur Hill
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com

Big banks came to life in 2012 as the Finance SPDR (XLF) started the year strong and ended strong. XLK opened 2012 just above 13 and is likely to finish near a 52-week high. The ETF scored a 52-week high with the move above 16.5 in mid January and is currently around 16.18. The mid November low marks key support for this long-term uptrend. The indicator window confirms relative strength as the price relative hit a 52-week high on December 28th. Relative strength in the finance sector, which accounts for around 15.65% of the S&P 500, is a positive for the overall market. Some of the biggest winners this year include Bank of America (BAC), Citigroup (C) and Goldman Sachs (GS).

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Arthur Hill
About The Author:

Arthur is the Chief Technical Strategist at TrendInvestorPro. Focused primarily on US equities and ETFs, his systematic approach of identifying trend, finding signals within and setting key price levels has made him an industry-leading technician. Learn More 

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