Intraday Look and Analysis: Coming out of the Nether Regions

Despite another slow, choppy market, the regional banks are up nearly 1% at the time of this writing. Note the 30-minute timeframe of the KRE sector ETF, below, as a recent higher low appears to be put in above the September correction. A breakout from the current base (light blue lines) would put the upper resistance line in sight.

Although it is playing out slowly, the sector rotation thesis remains a valid one, with energy, materials, and financials benefitting so far.

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