Financials Approaching All-Time Highs...Buyer Beware?

$XLF

XLF 0.00%↑ within pennies of its prior all-time high from 2022. Under the surface there’s been a momentum divergence building since December. Divergences can last and are not necessarily indicative of an impending correction, but this nonetheless warrants attention. I’ve personally closed out long positions in XLF 0.00%↑ , and will observe what happens here around $40. A failure might garner a reverse position to the short side.