Not an easy call. Technically it is more probable XLF to break the upper trend line and resume the bullish trend. But this is end of cycle so the upside is limited in my view with the rates being sqeezed, FED balance sheet tightening.
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Economies slowing down globally. Peak auto hinted by weak output numbers by major industries. This upper trend cycle will soon be challenged. I'm worried about those bail-in rules.