Higher and higher we Go

So how high can XLF go where would be a good spot to add to the short after a failure to break above new highs or after a key reversal. Let's take a look at this longer term chart:

With XLF currently at 29.90 I guess the year high of 30.79 is easily within reach. The question is if it could attempt to break out to new high. At this point, I can only watch and wait, it definitely has the MO' on its side at this point. I am just watching for where a significant reversal could take place as I have proven pretty inadept at "calling" tops. ;)

-BG