“So goes the banks so goes the broad market … it has worked that way for years, so keep this important sector in mind for the macro picture,” Kimble Charting Solutions said in a note Wednesday.
Other ETFs for financial stocks include Vanguard Financials (NYSEArca: VFH) and iShares Dow Jones US Financial Sector (NYSEArca: IYF).
Financial Select Sector SPDR
Full disclosure: Tom Lydon’s clients own IYF.