1) In an Uptrend - higher highs and higher lows - since early May (along with broader market) but more importantly has done so in the face of downward pressure on banks/financials
2) Retraced 38% of entire move up from May lows. Potentially has a bit further down to 50-61% retracement area before next wave up
3) Longer-term Parabola structure (on weekly chart) sets of for breakout from cup pattern to new highs later this year
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A break of the overall weekly parabola would invalidate the above thesis in my view
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From mod @zAngus