Enough is enough, already. The financials are absolutely despised by everyone, and probably deservedly so. They have been in steep downtrends for quarters on end, complete with false bullish reversal signal after false bullish reversal signal. After an incredibly weak open today, many of the well-known banks are putting in hammer candlesticks.
Accordingly, I hereby declare this to be the last stand of the banks. If they cannot rally here, well, then they cannot rally anywhere. Will the banks wind up like George Armstrong Custer at Little Big Horn? Or George Washington crossing the Delaware to rip the faces off of the Hessians?
6 Responses to The Last Stand Hammer
great posts today chess, thanks…
They SHOULD end up like Custer, but the original PPT will step in!
They look ripe for a squeeze – probably a ton of weak shorts in the banks now
I’ll pass, fugly stuff. Plus I hate big banks.
One short-covering rally coming up!