The financial exchange-traded fund (XLF) is showing the right technical stuff in recent weeks. Let's explore the charts and indicators.
In this daily bar chart of the XLF, below, I can see that earlier in the past 12 months the XLF found buying interest (support) in the $31-$30 area but in May the XLF found buying interest above $31 suggesting to me that buyers were being more aggressive. The trading volume has been more active in the past three months. The On-Balance-Volume (OBV) line has been weak the past year and is not in sync with how I view the price action. The Moving Average Convergence Divergence (MACD) oscillator is slightly below the zero line. Prices are below the 200-day line but above the 50-day.