MIKE PAULENOFF'S ETF TRADING DIARY
Judging by the improving technical condition of some of the members of the Financial Select Sector SPDR (AMEX: XLF), such as Bank of America (NYSE: BAC), Citigroup (NYSE: C), AIG, GS, and MS, perhaps this morning's low at 26.20 will suffice as the third such low of a near-term triple bottom completion of the pullback off of the Feb 1 high at 30.00? If that proves to be accurate, then confirmation that a significant corrective low has been established will come only upon a hurdle of the key Feb down trendline resistance now at 27.00. Until then, I only have indications that a tradable low is in place.
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