There's been a nice recovery this morning after the XLF failed to push lower on the day and oil has moderated to even. The XLF had been down as much as a percent and a half but suddenly shot to up a percent while the broad market was strongly negative. This did not make sense with the recent relationships between the XLF, USO, and SPY. Therefore it was a very good time to get long and ride the recovery.
The XLF is still climbing and should lead to more gains from here. A turn in the etf or a spike in oil would not bode well for any continuation.
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