Banks always get hit first as they always provide us with the initial QTRLY earnings... some are good and some are bad but the P:E ratios on most are solid like CITI bank or Goldman Sachs, JP Morgan, Chubb, Wells Fargo and this is what moves XLF... now i could be wrong here but with prices going up banks taking large oil and commodity positions i feel the behind-the-scenes money is larger than we think, iv'e always seen banks sold off and continue to reach new highs... The perfect example is going to be Citi bank and well, we all saw Bank Of 'America and unfortunately i missed that one long. The Market needs to hold this 365 ma believe it or not were in a yearly retest and things can go sour from here worse than before as we approach the 2020 trendline before the market crash.