Thus far this morning, it has been a rather dull market. I've been catching up on some scans and news. Even though it's a dull market, don't let it trick you, you need to stay on your toes as dull markets often precede some crazy action and catch a lot of traders by surprise.
As for The financials, even XLF is pretty dull and not really worth commenting on. The leveraged financials, FAZ (bear) and FAS (bull) are about as interesting a chart as I've seen this morning with the excepting maybe of a bunch of stops run in UCBI which means that C&D trade should have some price level alerts on it.
FAS (Financial Bull) with a positive divergence on the 10 am dip, now moving into a leading positive divergence. That's somewhat bullish looking.
The inverse of FAS, FAZ (Financial Bear) showed a similar negative divergence at the bounce around 10 am this morning.
Don't forget last Friday's bigger picture in Financials, these charts make sense within that context.
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