Whether it means XLF offers value to long-term investors is up for debate, but the ETF is nowhere close to its all-time high. To get back to that area, around $38, XLF would have to gain another 83%. Taking matters one step at a time, if XLF can close above $22 in the near-term that will be the first time the ETF has done so in over five yeas and that could be enough to trigger new buying in the fund.
Financial Select Sector SPDR
ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of DXJ, IWM and SPY.