(Premium) November Financials Outlook

Financials are rangebound on a relative basis, despite a strong performance over the last few weeks. As long as the group is below the 2019 lows, we need to be cautious. Above that, though, and we want to look at getting aggressively overweight.

The recent strength has been led by insurance stocks, and there’s no reason to expect that to change.

Principal Financial, Globe Life, and Metlife are all breaking out to new highs.

And here’s Aflac trying to break the neckline from an inverse head and shoulders continuation pattern.

If the banks can get involved, Financials could really get rolling.

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