A Bad Year For US Financials Looking Even Worse
Morgan Stanley, Bank Of America, Citigroup and JPMorgan - all exhibiting similar year to date behaviour. The whole sector is rolling over, reversing the 2017 rallies as the yield curve remains flat, and possibly set to invert. JPMorgan and Bank Of American look particularly bad.. notice both are just managing to hold up above a clear 6 month support. I would bet on break lower in the coming weeks, possibly days. BAC, JPM, C, MS, XLF.
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