“Traveling Higher”:
The property and casualty insurance names have been solid actors inside the diverse financial sector. Of course, there are laggards with TRUP off nearly 70% from its high last December near 160. Former best-in-breed CINF is faltering somewhat but trying to hold the very round par number as the right clavicle of a bullish inverse head and shoulders formation takes shape. Those however are exceptions and not the norm. Leaders include names like WRB which is at all-time highs and acting well POST breakout from a 72.42 cup base pivot. CB has blasted above a 202.83 double bottom pivot. Lesser known RLI is on a 3-week winning streak with each CLOSING at the top of the WEEKLY range and advancing by a combined 25%. Below is the chart of TRV and it is behaving itself the last 2 weeks are higher by a combined 11% and the last 2 weeks were accompanied by the strongest WEEKLY volume dating back to the week ending 4/22/22. Insuring chart action.