XLF spent about 6 weeks dallying around the .382 retracement of its fall from 38.15 to 5.88, finally squirting through in late April. Like SPX, it peaked on May 22 — only to tumble 8.6% (versus 7.5% for SPX.)  The Jun 24 bottom wasn’t particularly motivated by a harmonic pattern or channel; it simply turned … continue reading →