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The Financials

It seems as though we have formed a bottom in the financials. XLF the financial sector ETF reached an intra-day low on July 15th of 16.67 on extremely high volume and we had an exhaustion bar. The stock has been in an uptrend and closed today at 22.03.  Currently there is resistance at 22.50. Therefore, we will possibly look for a pull back to the moving average at 21.06 to get long.

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