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 […]
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. […]
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 […]
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 […]