Chart of the Day: Financials Looking Up?

We came into the year bullish on financials and cautious (but certainly not bearish) on tech. 

Well, for the first half of the year, our solid thesis — considering price action alone (as opposed to fundamentals) — looked a bit shaky (at best):


Financials are the bold yellow line:   click to enlarge…





The (albeit very young) second half, on the other hand, is beginning to make more sense:

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