SPDR Select Sector Fund ETF – XLF
(1D) Elliott Wave Technical Analysis – Daily Chart

Function: Major Trend
Mode: Motive
Structure: Impulse Wave
Position: Wave [v] navy
Direction: Uptrend

Daily Chart Insights

• The fifth wave is currently active, with a minimum target of $54.07.
• We are in wave (iii) of [v], the most powerful phase of the impulse.
• This rally is expected to break above the wave [iii] high.
• Invalidation Level: $48.58 – breaching this level challenges the wave structure.

SPDR Select Sector Fund ETF – XLF
(4H) Elliott Wave Technical Analysis – 4-Hour Chart

Function: Major Trend
Mode: Motive
Structure: Impulse
Position: Wave (iii) orange
Direction: Uptrend

4-Hour Chart Insights

• Wave (ii) ended at $48.58, reducing the probability of a complex correction – a bullish sign.
• The current move marks the early stages of wave (iii), a prime setup for buyers.
• Anytime now is a potential buying opportunity.
• Key confirmation level: $50.91 – ideal for conservative entries.
• Critical support: $49.50
• Invalidation Level: $48.58 – must hold to maintain bullish outlook.

Conclusion

• The ongoing XLF rally aligns with a fifth wave impulse.
• The setup offers a strong long opportunity for ETF-focused traders.
• The rally is projected to exceed the previous wave [iii] high, aiming for a minimum of $54.07.
• Maintaining strict adherence to Elliott Wave principles and monitoring invalidation levels is essential to reduce risk.

Technical Analyst: Siinom

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