From the desk of Tom Bruni @BruniCharting
This week’s talk of the town is how Financials, particularly Regional Banks, are rolling over relative to the rest of the market at a faster rate than the Yield Curve is rolling over.
While that’s certainly something worth noting, Financials as a group don’t really become that interesting until they break out to new all-time highs.
The XLF is close, but not there yet.
Instead, I think the focus should be on the Broker-Dealers & Exchanges ETF (IAI) as it presses up against all-time highs of its own.
Let’s take a look at what’s happening.