Worth pointing out here again is the BKX bank index. It remains looking weak and is very close to slip out of this latest bear flag pattern. A close above 48 would cause us to look on the long side.
Yesterday's low in GS was at $151.50, where it bounced quite hard. Should we get a close below that level today I will consider a bucket 2 short side stab. In the chat-room this morning we are discussing this in great detail. http://steadytrader.wpengine.com/members-area/
The finnies are outperforming today in a relativ basis. Simply put as of right now the SPY is down 0.33% while the XLF (financials) is up 0.33%. As I watched JPMorgan (JPM) and Bank of America (BAC) trade over the past few days I couldn't help but start to feel more and more constructive on […]