Recent pullbacks toward key long-term support levels on the charts of three popular financials suggest that now could be the ideal time to buy.
Why JC Parets thinks financial stocks are pointing to higher highs for U.S. markets.
Nearby support on the charts of charts of key financial ETFs suggests that this will be the sector to watch in the weeks and months ahead.
Tepper's Appaloosa Management is up 5.6% over last quarter, according to a 13F filing.
According to the Lex Van Dam Trading Academy, the market indicators checklist had turned neutral, from a previously positive reading. This suggested avoiding a directional view on risk markets (e.g. stocks vs bonds) in favor of selling extremes within a range over the coming month.
Breakouts on charts of key financial stocks suggest that this could be the sector to watch in the final months of 2017.
The FAANG stocks are boosting returns for actively managed mutual funds.
Hedge funds have made financial stocks their most underweight sector, per Goldman Sachs. Meanwhile, mutual funds remain bullish on financials.
A key financial sector ETF has broken through key support levels.
Bullish patterns on the charts of these financial assets imply significant room to the upside.