TD Bank making headlines with a new all-time high

A bank making an all-time high! Another reason not to short this market just yet. However, the fact this made the news is a tempting short prospect. I just saw TD Bank making the headline today on Globe and Mail. TD.TO is running away from the pack. See Figure 1 on TD.TO versus TSX Financial Index. TD is trending bullishly away from the rest of the banks gradually since end of 2007. Why? I have no idea as I don't follow it. Moreover, TD is making a bullish dead cross (50 over 200 moving averages) on the weekly chart of Figure 2 (marked with circle). That is very bullish indeed. Nevertheless, there is an obvious long-term negative divergence as TD is making a new high as shown in Figure 2. Secondly, if you observe Figure 1 again, you will see that TD/SPTFS is testing a strong resistance. There is evidently a conflict between the bulls and bears. Price is telling one story and the indicators are telling another. Either way, this stock will be a good one to watch. Patience on the short for now... I am hunting to short something in the energy sector. No shorting Canadian financials for me. I am not crazy.

[caption id="" align="aligncenter" width="570" caption="TD Bank / TSX Financial Index"][][][/caption] [caption id="" align="aligncenter" width="570" caption="TD Bank"][]1[/caption]