Forgotten Financials:

The diverse financial space has been a very worthy performer all year long. On a YTD basis, the XLF is higher by 40% and still the second-best major S&P sector during the time span. Some notable moves recently include BEN which is up more than 18% this week and on its WEEKLY chart has the look of breaking above a cup with handle pivot of 36.04 in a pattern more than 2 years long. FRC is attempting to nudge above a bull flag pivot of 220. AIG in insurance looks strong above the 60 number. MC is looking for an 8 week winning streak and has not recorded a distribution week in almost 9 months. The XLF itself is looking for a third straight taut WEEKLY CLOSE above the 40 number, and the chart can be interpreted as a bull flag and a breakthrough 40.75 carries a measured move to 46. Below is the chart of GS, a best of breed name that is higher by more than a double over the last one-year period, impressive for such a familiar larger stock. The strong tailwinds for the sector should help nudge many of these names going forward.

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