Last week’s market leadership was thin. Financials were mixed; KBE beat SPY and XLF trailed it. KBE has some concerning divergences on the chart below. Note: the chart below is a daily chart. For the week KBE beat SPY by 0.56%.
Indicators show momentum is slowing in financials. We may include KBE and/or XLF in this weekend’s video, which may be ready for consumption on Sunday.