As I have previously mentioned, look out for failed breaks. A failed break has an emotional aspect and will be the single thing to start a large downward move. I’ve been watching banks as a sort of “leading indicator” for these failed breaks. If bank stocks fail to move higher, it would constitute a failed break.
Watching; GS, JPM and BAC(among others) for these failed breaks.
**Currently hold no positions**
Comments are closed.