Financials are pushing lower yet today, once again. I discussed the recent notable weakness over the weekend, and why it was so key to acknowledging.
The following is just a small excerpt from my latest Weekly Strategy Session (please click on that hyperlink for details about trying it out). which I published for members and 12631 subscribers this past Sunday.
Citi followed-through lower yet even after our analysis last weekend of the vicious failed breakout, or “bull trap,” highlighted below. Here, again, even though it is now too late in the game to short Citi (at least headed into Monday, it is) the failure of bulls to step in at the 200-day moving average/lower support trendline is indicative of a major change in character for a marquee financial name.
The sector ETF for the financials likewise has the bear flag versus base analysis discussed in the first subsection this weekend.
Please click here to continue reading the rest of this Strategy Session
What IS the witching hour anyway?
Kinda wishing I lightened up and took some profits on IPCI spike earlier. But I’m too interested to see how closes the day now…
The bottom picker in me wants to take a stab at MLNX and AREX. Resisting.
Good plan
F is pretty close to your mark
Any thoughts on BAC? Looks like a bear trap in a rising wedge that has broken down back into the wedge. Thanks!
Bull trap…yes
doh…