Much more constructive the chart of JPM here. A daily close above the blue downtrend line may lead us to go long for a trade.
On the back of my update on the financials yesterday (read HERE) I am keeping a close eye on JPM. On a relative basis it has remained one of the better acting banks over the past weeks and as such i am looking for leadership there. If you look closely you can see the bullish […]
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 […]
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Banks have underperformed the market for the better part of this year and given the current short-term oversold state in the broader U.S. equity markets the banks could offer us a chance at a quick buck here. In the chart below dating back to April note the blue line (financials) underperforming the S&P 500. […]
Good morning and happy Friday! After a fairly flat broader tape yesterday, we rise this morning to most things, dollar and treasuries aside, trading at higher prices. The Euro continues its astonishing rally on the back of the rate-hike the other day. Gold, silver, oil, and stocks are all up solidly ahead of what looks […]
WFC along with JPM in my mind are some of the better financials charts out there, at least in comparison to GS and potentially BAC (although BAC is getting at least one leg back up). Let's look at it in two time-frames, weekly charts and daily charts. On the weekly chart below we see a […]