Banks Bursting Up:

Give credit where it is due, as the financial group has been resilient lately. More praise is needed as it is occurring at the very round 30 number where it quickly surrendered back in 2007 and 2018. In fact the XLF CLOSED very taut the last 3 weeks all within just .18 of each other. This week is seeing some follow through, up nearly 1% heading into the holiday shortened week Friday. There have been some interesting moves within the diverse sector with SCHW looking for an EIGHT consecutive weekly advance, as it battles with the very round 50 number. SQ is on a 10 session winning streak as it peaks its head above its 200 day SMA for the first time in nearly 4 months. MA and V are just 1% off recent all time highs, yet exchange plays such as CBOE and CME are weakening. Insurance via the KIE broke above a 35.67 cup base pivot, and the KRE looks poised for another leg higher. The space is firing on all cylinders at the moment. Keep in mind the group is contributing to the small caps too, as it makes up the largest weighting in the IWM which has been acting brilliantly as of late. There is a lot to be thankful for in this group headed into the holiday, pun intended.

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