In the case of The Financial Select Sector SPDR Fund, the RSI reading has hit 28.0 — by comparison, the RSI reading for the S&P 500 is currently 26.9. A bullish investor could look at XLF's 28.0 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.
Looking at a chart of one year performance (below), XLF's low point in its 52 week range is $39.53 per share, with $52.635 as the 52 week high point — that compares with a last trade of $47.33. The Financial Select Sector SPDR Fund shares are currently trading off about 1.1% on the day.
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