Many financial names are hanging on by a thread, the leader Goldman Sachs Group, Inc. [[GS]] is broken (technically speaking), and many are near breakdown levels. I will be watching the financals for early clues on future direction of the overall market.
Goldman Sachs Group, Inc. [[GS]]
JPMorgan Chase & Co. [[JPM]] Topping pattern– series of lower highs. I will be watching to see if the $40.50 level holds.
Capital One Financial Corp. [[COF]] The last few weeks this one has been hanging on to the 50 day moving average for dear life. On Friday, the stock closed below the 50 day moving average, a move lower looks to be in the near future.
The Bank of New York Mellon Corporation [[BK]] Watch for a breakdown below $26
Zions Bancorporation [[ZION]] Breakdown below $12.50
optionsXpress Holdings, Inc. [[OXPS]] Closed below the 200 day moving average and sitting around support. Feel free to short on weakness.
Check out what Bill Cara had to say about this:
http://caracommunity.com/content/blog-november-27-2009-see-addendum
thanks for posting this Moobs.
I have to agree with some of the major points in the article.
The credit system is still a mess.
Excess reserves are huge.
treasuries dipping to negative yields.
Lots of ugly stuff for the banking sector.
And with Dubai blowing up.
Well it doesn’t look to good.
RC,
I too am watching the financials as a bellweather.
Hi Rj ,
great call on YGE , exactly bounced from 12.95 level as you predicted and showing some strength here .
what is your targets on on this pic k
thanks
Yep, noted in PPT that the stock is acting well. This one has another $2 upside easy IMO.