Stocks of major U.S. banks and brokers are behaving in a way that shorts are probably not very happy with. Should they treat this as a signal or noise? The top six have reported September-quarter results, and it is a … Continued
Through Wednesday, three major U.S. banks have reported third-quarter results, and if there is one common theme, it is the top line. There is no growth. JPMorgan Chase (JPM) reported revenues of $23.5 billion, versus $25.1 billion last year. For … Continued
Bears point to action in transports to drive point home Bulls cite how financials are acting to prove why bears are wrong VIX remains pinned by 15, bullish (financials); VIX past 15, bearish (transports) Much ink has been spilled over … Continued
U.S. financials continue to send conflicting signals. As important a sector as this one is, what happens next probably will hold clues to a whole host of things, ranging from what lies ahead for the U.S. economy to where interest … Continued
A month ago, KBE, the SPDR S&P Bank ETF, looked on the verge of a breakout (more here). Here we are, one month later, the ETF has indeed broken out. It has the potential to be a major breakout, as … Continued
Despite a down day in stocks in general, financials had a lot of oomph yesterday. KBE continues to hug the upper end of the one-plus-year range it is in (Chart 1), as if the ETF wants to break through resistance. … Continued
GE stages massive breakout Friday on back of massive buyback announcement S&P 500 companies splurged $565 billion on share repurchases in 2014 As/when buybacks dry up, support zones become more vulnerable Before last week, GE shares had been on a … Continued
Different messages coming out of two financial ETFs – KBE vs. XLF KBE similar to KRE, regional bank ETF, while XLF is large cap-dominated C&I loans have been growing nicely, but so is inventories-to-sales ratio, muddying picture How did U.S. … Continued
Major U.S. banks’ 4Q14 earnings results big disappointment Release of reserves built up during crisis years have been big tailwind Financials’ path of least resistance down medium-term, though oversold near-term Investors were genuinely disappointed last week as all four major … Continued
Bounces are normal within established downtrends 2015 starts out lousy; selling/shorting rallies ka-ching so far this year Should Draghi disappoint next week and U.S. stocks get sold, weakness probably gets bought For ardent believers of “as goes January, so goes … Continued