The Finance SPDR (XLF) surged to a fresh 52-week high with leadership from Morgan Stanley (MS), Bank of America (BAC) and JP Morgan (JPM). The CandleGlance chart below shows these three hitting 52-week highs. It is hard to argue with upside leadership from the second biggest sector in the S&P 500.
Click this image for a live chart
Click this image for a live chart
About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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