XLF surges on house vote, but don't buy into the move.

XLF, the financial services ETF, surged as the House voted to repeal Dodd-Frank. However, financials are staring a wall of delinquencies in the face as the delinquency rate continues to rise higher. This will have a bigger effect on the market than passing this legislation. The delinquency rate continues to rise after the surge in lending at the end of 2016.

I am looking to short XLF. The economy is not as robust as most participants wearing blinders want to believe. Given this, XLF is a short at these levels. There will be more data coming through that iterates where the economy truly is.