A Toll Booth Willie Bull Market

Persistent strength in payment processors SQ PYPL (not to mention the uniquely strong, multi-year bull runs in leaders MA and V) reinforce the secular theme of the modern day "toll collector" business model dominating global capitalism. 

Earlier today on social media I charted QIWI, a similar play with exposure to Russia. There are other plays on the periphery of this theme, such as NAVI, which one of our Members noted as being a potential "catch-up play" to the leaders listed above. 

Based in Delaware, Navient Corporation has a government angle on the payment processing theme, at the federal, state, and even local levels. 

On the NAVI daily chart, below, note how the name held its inverse head and shoulders bottom breakout, outlined. 

Given the rotation down to financials today, NAVI stands to benefit from both that rotation as well as the bullish theme in the payment processors. 

More on the market in my usual Midday Video for Members.