Exchange Envy:
The financial arena is a diverse universe, like many other major S&P sectors. Many focus on the traditional money center banks, but to get a full picture of what is going on beneath the hood, one should dig deep into the space. Below is the chart of ICE, which REPORTS EARNINGS Thursday after the close, and it is behaving well like many peers in its sub sector. It is on a 3 week winning streak rising by a combined 6% in the time period, and has achieved its measured move above an ascending triangle breakout. Perhaps one can hope for a pullback to see if the 95 number will be retested and become support, where it was prior resistance. It is good to see rivals behaving themselves, as one never wants to see just one name in a particular space doing all the heavy lifting. NDAQ has gained ground 12 of the last 14 weeks, CME is attempting what could be a very meaningful break above the 220 area, and CBOE is trading right at 52 week highs.