Technicals - financials sector - the key positive sector of the Australian market

The financials remain the stand out sector of the market, purely from a technical perspective. It is significant that almost half of the current open buy signals / recommendations identified by the QMG technical analysis model fall within this sector of the market . It is a positive momentum indicator for the sector outlook that there has been a "cluster" and heavy concentration of stock buy signals generated within the financials space (notably excluding the A-REITS which have featured heavily on the sell signal side over recent months).