Here’s what I’m seeing — [[XLF]] (Financials) and [[XLU]] (Utilities) are both basing under resistance. Click charts to enlarge
readBased on the assumption that financials may have reached their bottom (85% drop + XLF looks like it’s basing under resistance, depending on how you
readS&P 500 ($SPX) 2-year weekly chart of S&P 500 index Getting overbought, so we can probably expect some weakness in the next week or two.
readNot sure how reputable is the source, but it’s an interesting chart in any case. Click to enlarge
readFinancials have higher to go, in my opinion. Depending on today’s close the picture may change, however, lots of positives in [[XLF]] chart: Click to
readThis is just a friendly reminder why I like to short these simultaneously. A picture is worth a thousand words: Click to enlarge
readI’m Ursa Minor at the moment 🙂 and if there’s a pop in the morning, I’ll go full bear. Here are some charts to back
readFutures spiked as this news hit the wire. Citi shares in Japan were up 12-15%. Source: WSJ Taxpayers Could Own Up to 40% of Bank’s
readClick charts to enlarge BKX – Bank Index Chart Banks are on a death march. If there’s some good news brewing, the market is not
readClick charts to enlarge BKX Bank Index Former support level at $25+ is now resistance. Note, there’s no open gap in BKX. XLF XLF has
readI’m short [[FAS]] – triple financials ETF (from $17+ – left that trade running while away). Trying to see where financials will go next. As
readBank stocks are Canadian darlings of the moment: a lot of people are concentrating on the relatively high dividends and solid blue chip stocks, still
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