Figure 1 is a weekly chart of the S&P Select SPDR Financial Fund (symbol: XLF). The red and black dots are on the price chart are key pivot points, which represent areas of buying (support) and selling (resistance).

Figure 1. XLF/ weekly

This is a widely followed ETF that correlates highly with the market. As thebanks go, so goes the market. Currently, price is below the three most recentkey pivots and there is only 1 interpretation for this finding: bear market. Aweekly close below 13.76 would seal the deal. Support levels are at 12.38.