It is "lights out" for Financials.
Below is a daily chart of a capitalisation weighted index of JP Morgan, Bank of America, Wells Fargo, Citigroup and US Bancorp - the largest banks in the USA. As is clear, a very bearish pattern has been activated. I am not sure how long the joke of broader indices at or near the highs will last, but either banks rally hard, or indices come down.
1 comment:
What service do you use that enables you to do arithmatic with tickers, like in this post?
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