Let’s notice that the Regional Bank HLDRs ETF (AMEX: RKH), which we added yesterday, continues to climb to new recovery highs, hurdling the August double-top at 81.45/49 in the process, which usually is a very constructive technical event. If the RKH sustains for today’s session above 81.50, then my next target becomes 85.20/60. The heaviest weightings in the ETF are JPM, WFC, USB, BAC, NTRS, PNC, BK, BBT and STI.

By Mike Paulenoff

Mike Paulenoff is author of the MPTrader.com (www.mptrader.com) , a real-time diary of Mike Paulenoff's trading ideas and technical chart analysis of

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