In this article on 10/30 I highlighted a hypothetical example trade in Financial Select Sector SPDR (NYSE:XLF), based on:
*An expected bounce in the overall market
*Extremely negative sentiment for XLF
*A positive divergence between XLF price action and the 3-day RSI
Guess what, folks…sometimes this stuff actually works!
The example trade was intended as nothing more than a short-term speculation hoping for a “pop” in XLF. Figure 1 displays the current status of the trade (assuming the trader was willing to risk $500 on the trade) as I type.
Read more at : https://www.investing.com/analysis/taking-what-xlf-gives-or-not-200352523