DFS is fundamentally weak in XLF in the pandemic giving it's high exposure to personal finance. The first dip is already 0.236 fib line.... So I would use this fib level on leaders in XLF such as JPM as the starter to long.
Undoubtedly banks suffer a lot from personal finance and commercial related loans due to COVID-19. But post 08/09 it's balance sheet was positioned for less leverage and has high reserve ratio. I think longer term they are not bad investment in IRA. But be aware that financials sector will be involved with everything crash, not matter who triggers it. So don't rush into it without a "vaccine".
Undoubtedly banks suffer a lot from personal finance and commercial related loans due to COVID-19. But post 08/09 it's balance sheet was positioned for less leverage and has high reserve ratio. I think longer term they are not bad investment in IRA. But be aware that financials sector will be involved with everything crash, not matter who triggers it. So don't rush into it without a "vaccine".