In February 1995, the U.S. economy was in great shape. The 1990-92 recession had been over for a couple of years, the Federal Reserve was beginning to ease interest rates, the Clinton administration was beginning to make progress on sorting out the United States’ modest long-term budget problem and there was this new thing called the Internet that looked as though it might bring some exciting new possibilities.

The Financial Select Sector SPDR (NYSE: XLF) has rallied over 40% from its low on March 6 through to last Thursday’s higher opening. The price action last week has triggered a half-day buy signal, which means that it should make at least a three-wave move to the upside.