The financial sector has been one of the market's bright spots in May, rising 3.4 percent versus a 2 percent gain for the S&P 500 as a whole. And one technician says the run isn't over yet.
Ari Wald, head of technical analysis at Oppenheimer, says the SPDR financial sector ETF (XLF) could be set to break above a key level, paving the way for further gains.
The XLF "peaked in December at $25. We are now moving back to that level," Wald commented Tuesday on CNBC's "Power Lunch." "Aside from what could be a pause here, we think we break through."