Return of Overbought Conditions Will Keep the Lid of the Upside

Bank stocks rose at least 2.5 percent, led by Bank of America, Citigroup, Goldman Sachs and J.P. Morgan Chase. The Financial Select Sector SPDR ETF (XLF) jumped 2.29 percent to 27.28, down 2.2 percent YTD. Now the question is whether recent rally is a beginning of a new upswing or it’s merely a dead cat bounce?

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