Topping

XLF has been up on the weekly without any major pullback since October, 2023. Now the rally has reached major resistance from previous ATH and with a series of 3 bearish divergence in RSI, the 5-wave rally from the October lows has either topped or is near a top. The rally is also getting less steep falling under the trend line. The next big move is likely to be down with the looming FOMC event on Wednesday.