Based on the assumption that financials may have reached their bottom (85% drop + XLF looks like it’s basing under resistance, depending on how you interpret the chart), I thought that this time (SPY: 134.361 -0.74%) can go down while (XLF: 14.565 -0.99%) moves up. And XLF is a relatively small part of the S&P 500 index now, so it’s possible for that to happen.

However, this week financials look weaker than the general market.