Loading...
Chart Of The Day

CHART OF THE DAY: THE UNSTOPPABLE BANKS

Just how unstoppable has the recent rally in equities been?  To give you some perspective just look at the Financial Services Sector ETF (XLF).  This fund, which is comprised primarily of large banks, has fallen just 8 times in the last 46 sessions!  Over the past 8 weeks this fund has rallied an incredible 23%.  The quality of the rally has been almost unheard of.  Of the 46 sessions only 3 have resulted in 1% losses and there were only 2 consecutive down days during the entire move.  The most recent streak is the most impressive portion of the entire move with the banks moving higher in 14 of the past 16 sessions.  The “can’t lose” market lives on.

Comments are closed.