RYF has been a slow-mover lately, but it's moving up today after a blockbuster earnings report from JP Morgan. RYF today is exiting oversold relative to the S&P 500. When you look at RYF's chart in isolation, it's right below a breakout level:
With attractive valuations across the entire sector, I think this fund will indeed break out on the strength of JP Morgan earnings. We should see more earnings beats in the sector this quarter, especially from investment banks, because the same logic that led to JP Morgan's success (hot stock and bond markets) should favor other firms as well.
With attractive valuations across the entire sector, I think this fund will indeed break out on the strength of JP Morgan earnings. We should see more earnings beats in the sector this quarter, especially from investment banks, because the same logic that led to JP Morgan's success (hot stock and bond markets) should favor other firms as well.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.