Chart of the Day - Friday, February 19th, 2021

Today’s Chart of the Day was shared on Twitter by Shane Murphy (@murphycharts). It's a weekly candlestick chart of the Financial sector ETF, $XLF, over the past five years. The largest stocks in this ETF include Berkshire Hathaway, JP Morgan, Bank of America, Wells Fargo, and Citigroup. Financials were the talk of the town this week, as they broke out to all-time highs for the first time since the Great Financial Crisis. In a comment to The Chart Report, Shane said "The action we've seen in interest rates recently has been a nice tailwind for this sector. If rates continue to push higher, I think Financials will follow suit. It's hard to understate how bullish this is for the broader market picture. I don't think we've ever had a bull market in which Financials didn't participate. So, seeing Financials join the party is just another thing to check off the bull market checklist."