It's another morning in the life of this historic bull market, one that continues to defy and astound. And like any trend, fighting it is akin to swimming against the current. Of course, despite the continued upside action skepticism remains.
A little over 9 years ago the selling in financials was so bad that the SEC banned short selling of all financial stocks. Yesterday the buying was so good $XLF, the financial ETF, hit a new record high and continues a breakout over 10 years in the making.
After this mornings jobs report, financials are getting bought hand over fist. $JPM and $GS Goldman Sachs and J.P. Morgan Chase are up 2% each. Even more impressive, the financial ETF $XLF today has broken resistance that's been over 10 years in the making.