Financials Step Into the Spotlight 📈 The Chart Report
Chart of the Day
🏆 Today's Chart of the Day was shared by PhorosOxBeta.
Broker Dealers and Securities Exchanges ($IAI) are the latest corner of the market to show relative strength, with the ETF breaking out of a cup-and-handle pattern to new all-time highs.
The group has become one of the best areas within Financials ($XLF), which also closed at fresh record highs today after after lagging for much of the year.
On an equal-weight basis, Financials are making new relative highs versus the S&P 500, despite flows into the cyclical sector remaining surprisingly muted.
The Takeaway: The market continues to find new leadership, with Broker Dealers and Securities Exchanges emerging as the latest example.
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