Shared on 12/9 that a breakout in the Bank Index (BKX) was taking place and to pick up the banking etf XLF (see post here) Since then the BKX index has moved up around 5% more.
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The banking/financial arena continue to reflect quality relative strength. Now another banking ETF is breaking key resistance. See chart below.
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Game Plan…Continue to own XLF with a 3% stop. For aggressive investors, pick up IAT with a 3% stop, due to the breakout.
On a side note, from a price perspective angle only, not bad seeing Copper, homebuilders and financials, breaking above key resistance lines!
