Brett Steenbarger submits: Banks Lead the Way - Well, with the heroic music cranked up, I proceeded to watch the themes play themselves out this AM, following the pattern noted in my earlier post . Falling yields/rising treasuries (flight to quality); weak NYSE TICK; rising Yen/US Dollar: it was a nice illustration of how intraday themes can combine with longer-term research to provide an edge. Among the more important themes, however, was the weakness in the banking sector. As the top chart indicates, the banking sector ($BKX) is testing bear market lows, and the six-month advance-decline line for S&P financial stocks (XLF; chart below) is doing the same. This continues the very mixed performance of sectors noted in my most recent post. Complete Story » ...
Anytime
Brett Steenbarger submits: Banks Lead the Way - Well, with the heroic music cranked up, I proceeded to watch the themes play themselves out this AM, following the pattern noted in my earlier post . Falling yields/rising treasuries (flight to quality); weak NYSE TICK; rising Yen/US Dollar: it was a nice illustration of how intraday themes can combine with longer-term research to provide an edge. Among the more important themes, however, was the weakness in the banking sector. As the top chart indicates, the banking sector ($BKX) is testing bear market lows, and the six-month advance-decline line for S&P financial stocks (XLF; chart below) is doing the same. This continues the very mixed performance of sectors noted in my most recent post. Complete Story » ...