While the energy, health-care and consumer discretionary sectors are up a respective 7, 6, and 3 percent this year, financials are down 1 percent despite strong performances from marquee names like Goldman Sachs and JPMorgan. But according to one top technician, that underperformance represents a "win, win" opportunity.
In an interview with CNBC's "Options Action," chief market technician at Cornerstone Macro Carter Worth said the financials are nearing an "inflection point" that could make the sector the "place to be." Worth bases his thesis in part on the charts, which he says are forming a multiyear "wedge" pattern that should resolve itself in a "meaningful" move higher. Technicians often look to wedge patterns for clues on when a stock could make a big move higher.