Today the broader market is weaker, but there are pockets of strength. One major area of strength is financials.
This should not be a surprise as financials are, as a group, up 19.3% year to date. Over the last 6 months, their performance is even better, leading all groups with 21.9% increase.
This is all in stark contrast to the one full year performance for financials. They are down 5.5% in that time frame and only basic materials is down more (-7.2%).
If those timelines are too much for you, one week shows financials as the only gaining group adding 1.6%. One month performance has financials on top again at 4.1%, well ahead of second place Technology that is up 2.8%.
All of this strength makes me wonder, can it continue?
Many have said that you cannot have a real sustained rally without participation from the financial sector. Well this shows we have had participation but can financials lead the next leg of this rally?
Let us know what you think!
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