A Year of Nowhere in Insurance Stocks 🌤️ The Morning Print
Good morning!
After months of going sideways, insurance stocks are tightly coiled, and setting up for a potential expansion in volatility.
Let's take a look.
If you thought the S&P 500's multi-month range was frustrating, imagine how insurance investors feel about the year-long range in the iShares Insurance ETF ($IAK).
These stocks are at the same levels they were back in Q4 2024, and haven’t been able to catch a sustainable bid.
What's notable is that this group hasn't joined the defensive rally we've seen early this year, even though insurance is considered the more defensive corner of financials.
When dealing with this kind of stagnation, it pays to focus on the industry leaders showing relative strength.
Otherwise, you're just paying the price of opportunity cost.
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