So on a day when the market is down almost 2% those pesky financial stocks were up. In my post last night I gave you a nice chart of XLF, there was nice pretty pink box that said "LOTS OF SUPPORT". So going into today, XLF need to break at least 11.52. It hit it quickly ran up right after it. If you saw this that was your sign to get long. I bought some FAS because of this, now I have a clean out "If XLF breaks 11.52, sell FAS." Another reason to go long was XLF was right at this trendline and formed a nice inverted hammer. It actually looked better right before the close, now its a inverted fat hammer, hey fat hammers need loving too!!!
Here is an updated version of the chart from last night. That support level looks really good now.
Oh and incase you wanted a blast from the past here he is MC HAMMER himself
