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The chart below reflects how strong Financials have been over the past year, as XLF is up 80% more than the S&P 500 and Citigroup is even stronger, up over 150% more than SPY.
The chart above reflects that XLF & Citigroup both created rather large bearish wicks last week.
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Citigroup is a the top of its sideways channel that it has had a hard time breaking from since the highs it reached back in 2009.
Financials have been a relative strength winner over the past few years, keep an eye on them in the near future, due to the bearish wicks they created last week, because if they happen to head lower, they could impact the S&P 500 going forward!
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