Pockets of Strength (And a Critical Trading Lesson)
Hey, it’s Ross Givens here with the Chart of the Day. Today’s chart shows XLF, the ETF tracking a basket of financial stocks. It’s been on a tear recently, surging well past its mid-July highs as the market anticipates the Fed’s upcoming rate cuts. This is just one example of the pockets of strength I’ve been talking about—and there are plenty more if you know where to look. The sharp rise in financials also highlights a crucial trading lesson, which I explain in today’s Insight of the Day.