Tech bubble to financial bubble

I'm busy this week so I'll probably only have time for cut and paste articles for the next 4 0r 5 days. Mish at MGETA had a great post on Bank Balance Sheets and Earnings yesterday. Click on the link for the full post.

Mish cites minyan Peter over at Minyanville about his views on Bank earnings. The upshot is that bank balance sheets are better indicators of what to expect going forward than income statements as banks shift assets around, take write-downs and up provisions for doubtful debts.

The chart below comes from a link Mish provides in his post that asks the question Will Financials Be to This Bull Market and Economy What Tech Was to the Last?

The chart shows different sectors in favor over the last 25 years starting with energy in 1980, Tech in 2000 and now Financials. Have Financials had their day? I believe we will be able to answer with a resounding yes sometime in the next year as financials lead the current earnings cycle into negative territory.