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Actionable news in BAC: BANK OF AMERICA CORPORATION,

Why the upcoming bank earnings are a big deal for the market

A bevy of big banks is set to report earnings next week, and equity strategist Matt Maley of Miller Tabak will closely watch whether they can propel the popular XLF financial ETF above its recent highs.

The XLF, which tracks the S&P 500's financial sector, closed Thursday trading just 1.1 percent below the record highs set at the beginning of March.

"Even though they've rallied a lot lately, they have not broken above their March highs — they've kind of been trading in a sideways range — and if they can break out to new highs, that's going to be very positive," Maley said Thursday on CNBC's "Trading Nation." "We...


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