Financial institutions of all stripes rallied hard this week after Tuesday’s election results and E-Trade Financial (ETFC) joined the soiree. Shares surged more than 17% for the week, topping 17-month-old highs to move to their best position since October 2008.
The chart is a bit rocky, but looks like a cup-with-handle base started in December and with a 30.07 buy point. That left shares ending the week extended 7% above the buy point.