Week 14 Financials Trending and Performance

I added the big 6 banks/financials to my tracking given the situation with the banking sector.

Trending Heat Map

Many interesting things to see in the picture. Bonds TLT and SHY are trending well. Banks are mixed. Bank indexes are trending perfectly bearish. (I am short KRE).

Performance

We knew banking and finance have been the laggards and the table above prove that point. I have the SPY as comparison and that puts the performance in stark light. Plus, the trending is not improving at all. The KRE short has specifically been a good trade for me, and I remain short.

Week-over-Week Performance

The KRE is now down 6 weeks in a row and there is no indication that the trending is getting better. The TLT is actually up 6 weeks in a row indicating bonds are being preferred by investors and traders. Even the mightiest bank of them all - JPM - is down 4 of last 6 weeks.

All-in-all, financials are doing poorly, and I will continue to stay short the KRE until the trend reverses.