The Financial Select Sector SPDR ETF (XLF) is currently giving off some very creepy vibes. These vibes are taking me right back to 2008.
XLF is, more so than many other sector exchange-traded funds (ETFs), the traditional engine of the U.S. economy. So when it is technically weak and showing little in the way of “vital signs,” I take note. I think it is a critical bellwether for broader market health as we approach the second quarter. And with interest rates still trending higher, the odds are stacked against it.
