Get all your news in one place.
100's of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Mark Putrino

BZ Chart Of The Day: Remorseful Buyers Crush The Financials

NYSE XLF ETF

In the stock market, levels that had been support can convert into resistance levels. This may have just happened with the Financial Select Sector SPDR Fund ETF (NYSE:XLF), which means it may trend lower.

The conversion from support to resistance happens because of buyers’ remorse. As you can see on the chart below, the $36 level was important support for XLF in September and March. Many investors bought the ETF when it was there.

Sign up to read this article
Read news from 100's of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Woman Goes In For An Oil Change. Then She Gets Strange Looks When She Decides To Stay In The Car
“My husband thinks I’m crazy for sitting in my car."
Motor1
Motor1
55 Interesting Facts And Posts About The World Around Us
Well-informed people are often called insufferable know-it-alls, but that might just be jealousy. If you secretly wish to be a trivia-night hero, these fascinating facts are just what you need. They are so interesting, you might lose track of time by the end. Just scroll through and check them out…
Bored Panda
Bored Panda
James Bond Drank About 53 U.S. Standard Drinks a Week, and Doctors Suspected a Tremor Behind His Shaken Martinis
Doctors tallied every drink in Ian Fleming's Bond novels and found 007 averaged 92 UK units a week, about 53 U.S. drinks, with a shaky martini theory.
Medical Daily
Medical Daily
Netflix’s Narnia trailer featuring Led Zeppelin divides fans as some brand it a ‘disgrace’
‘Narnia: The Magician’s Nephew’ is directed by ‘Barbie’ filmmaker Greta Gerwig and is set to be released next year
The Independent UK
The Independent UK
Washington family’s Victorian doll Michael and its eerie dinner tradition
A Victorian doll named Michael occupies a unique place in Washington, DC’s history, not simply as an antique kept in a museum but as part of a family tradition shaped by superstition, grief and spiritualism. Displayed at the Heurich House Museum , Michael was reportedly seated at the dinner table…
The Times of India
The Times of India
Christian group tries to preach to women at Texas Roadhouse; the women respond with their own kind of blessing, leading to police intervention
They certainly weren't expecting that.
We Got This Covered
We Got This Covered
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play