Finnies Swimming Upstream:
Not too long ago it looked fairly confident that energy, which was in a Secretariat-like lead, which he was in the 1973 Belmont coming around the final turn, would just cruise to the finish line in 2021 in first place. But the financials are going to make it a very interesting finale. The XLF which can be seen here is less than 3% percentage points below the energy space. And of the two the financials clearly have the momentum. During the last one-week period the XLF has jumped 3.8%, more than doubling its closest competitor in the XLB. Over the last one month time period, it is tied with the utilities rising 4.5%. The XLF chart is now 1% away from breaking above a cup base pivot of 38.70, which would be an all-time high. Compelling is that Warren (Buffett not Elizabeth) will have a big say in how the XLF ends 2021. BRKB is the largest holding in the ETF at almost 13%, and it has carved out a double bottom pivot of 293.37. The last 3 sessions have broken above the tight range between the round 270-280 numbers and now feels like it has a magnetic pull toward the aforementioned trigger.