Insurance SPDR Leads Finance Related ETFs

Arthur Hill
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com

Stocks in the finance sector have been strong the last four days with the Insurance SPDR (KIE) showing chart leadership. Note that the Finance SPDR (XLF), Broker-Dealer iShares (IAI) and Regional Bank SPDR (KRE) are all up over the past week, but KIE is the only one trading at a new 52-week high already. This means the KIE chart is the strongest of the group. On the chart below, KIE stalled at resistance in mid August and broke clear with a big move the last three days. The broken resistance zone around 72.5-73 turns into the first support zone to watch on a throwback. The indicator window shows the KIE:SPY ratio breaking out last week as KIE starts to outperform SPY.

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--Arthur Hill CMT

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Arthur Hill
About The Author:

Arthur is the Chief Technical Strategist at TrendInvestorPro. Focused primarily on US equities and ETFs, his systematic approach of identifying trend, finding signals within and setting key price levels has made him an industry-leading technician. Learn More 

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