Hearing much buzz about the fresh relative lows for Utilities and Financials vs the S&P 500 
SPY this week... these relative trends typically don't move together so at some point one is likely to give...
Considering the underlying downtrend in Financials vs Utes, my bets on Fins underperforming and
XLF breaking to new lows vs $XLU... This is likely to happen in an environment where stocks in general are not doing too well.
Check out the chart of Broker-Dealers & Exchanges
IAI trapped beneath long-term resistance in the "related ideas" below - This also does not bode well for Financials as even their strongest subsector is currently trading below significant overhead supply.
SPY this week... these relative trends typically don't move together so at some point one is likely to give...Considering the underlying downtrend in Financials vs Utes, my bets on Fins underperforming and
XLF breaking to new lows vs $XLU... This is likely to happen in an environment where stocks in general are not doing too well.Check out the chart of Broker-Dealers & Exchanges
IAI trapped beneath long-term resistance in the "related ideas" below - This also does not bode well for Financials as even their strongest subsector is currently trading below significant overhead supply.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.