The Financial Select SPDR (XLF) is gaining some upside strength as it emerges from its 3-week sideways but base-link congestion area that projects a measured upside follow-through towards the 28.50 target zone. A climb above 27.50 should trigger upside acceleration. Only a decline that breaks 27.00 will begin to compromise the developing upside breakout.



Mike Paulenoff is a 26-year veteran of the financial markets and author of MPTrader.com, a real-time diary of his technical chart analysis and trading alerts on all major markets. For more of Mike Paulenoff, sign up for a free 15-Day trial to his MPTrader Diary by clicking here.