Financials Update

Yesterday I posted this article on the apparent reversal in financials.

Here's where we are today-

 FAS (long leveraged ETF Bull Financials)-today the negative divergence continues, it is in a leading divergence which is the worst type.

 FAZ (Short ETF on financials or Financial Bear) today the leading positive divergence continues, it looks like there's some serious accumulation into the dip recently. Since this is the opposite of FAS above, we are seeing confirmation between the two.

XLF-Financials ETF-This is a 10 min chart, fairly substantial timeframe for reversals. It too, much like FAS at the top, has seen continuing deterioration today and is also in a negative leading divergence.

Bottom line, financials look to be under distribution/selling while FAZ-a short play on financials is under accumulation.