Easier to stay long with financials at our backs

Having conviction on the long side (which is essential when it comes to buying pull-backs) is a lot less stressful when financials act this well.   We’re above all major moving averages now on the $XLF on daily and weekly.   Note this 15 area on the XLF has been a critical area for years.    Digestion here is normal and healthy.     Our guess is that once 15 is gnawed at a bit more, we’ll lift off from that level to the next resistance level at 17.     And if we pull-back in the digestion phase, first major support comes in at 14.