Wells Fargo (WFC) Recovering But No Cigar

As today's trading session slumps along I'm keeping a close eye on the financials on the back of the GS upgrade from JPMorgan.   I stated our case for a potential bounce in financials the past two weeks HERE.  As we've dabbled on the long side on WFC recently I wanted to point out the […]

Update on Financial Stocks. Where Is The Bounce?

Last week I pondered whether the financial sector might be due for a bounce soon. Read here. Thus far the financial sector has not bounced since I wrote last week.  As we are heading into a long weekend and the tape is choppy I wanted to give a quick update.   I don't want to […]

Financials At Important Intraday Level

The financials as measured by the popular XLF etf is at a an important intraday level right this moment.  After gapping down at the open to start the week today, it then led the market higher and currently sits at just about the mid-point of last Friday's trading session.  If it folds much below the […]

A Graphical Reference Point For The Weak Financials

The financials as measured by the popular XLF etf has been a distinct underperformer relative to the broader market as well as the more defensive sectors over the past two months.  Instead of delving into a flurry of reasons for this let me just point out a point of reference hat that we are looking […]

Where We Stand: A Look at S&P 500 Sectors and Industries

  The S&P 500 is currently battling it out with the most immediate support ($1275 – 1300) and resistance ($1345) levels on the daily charts.  While investor sentiment is skewed to the bull-side, among the more active types (hedgies and such) the view seems to be more two-sided.    As such I thought it would […]