We continue to see major indexes and key sectors pressing to fresh all-time highs.
This year, it’s all been about sector rotation — the steady flow of money into fresh leadership that keeps the trend moving.
And right now, Financials are stepping up in a big way.
When we talk about areas poised to benefit from this rotation, banks are at the top of the list.
Our custom, equally weighted index of the six biggest US banks is now joining the growing list of indexes breaking out to new all-time highs.
For me, if we’re going to get a sustained breakout in Financials at the sector level, the big boys need to show up.
And following that line of reasoning, if the biggest banks are in good shape, then the broader market probably is too— meaning the bull market has room to run.
We’ve already been all over these stocks with the Breakout Multiplier strategy. Just last week, we jumped on a fresh setup in the banks—and today, we cashed in a quick double. Meanwhile, our Citi $C calls from last month are up 400% from what we paid.
