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Wednesday, June 3, 2009

Financials: Charts Say "Decision Time" Update1

This is an update to the post Financials: Charts Say "Decision Time".

Even while the broader markets broke out and up last week, financials did not. It is therefore probable that financials will break down from current levels.

2 comments:

Dave Narby said...

Agree.

"They" (The Fed, in collusion with the investment banks, under direction of the government) had to pump the general market to keep financials afloat, they couldn't do it pumping financials by themselves.

This was so the banks and financial co.'s secondary offerings could get the best price possible from Joe Six Pack.

Once those offerings are finished, it's look out below...

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