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Fibozachi Technical Update (FTU) ~ 2.9.10: Bank Edition ~ BAC, C, GS, JPM, MS & SKF
Fibozachi ~ Technician's Corner
In this 2.9.10 'Bank Edition' of the Fibozachi Technical Update (FTU), we present 12 daily / weekly technical profiles of:
Bank of America (BAC);
Citigroup (C);
Goldman Sachs (GS);
JP Morgan Chase (JPM);
Morgan Stanley (MS); and
Ultrashort Financials (SKF).
- Please click on any of the snapshots below to open a large, crystal-clear picture -
Bank of America (BAC)
Citigroup (C)
Goldman Sachs (GS)
JP Morgan Chase (JPM)
Morgan Stanley (MS)
Ultrashort Financials (SKF)
Disclosure: we do not have any position in the securities mentioned. During any given session, we may trade any of these instruments bi-directionally.
For similar technical market calls and insights into the idiosyncratic machinations of financial markets; please visit our website ~ fibozachi.com. There, you can view a body of our analytic work as well as detailed explanations of the unique design development and technical methodologies within the proprietary technical indicator packages that we employ daily to perform a comprehensive technical analysis of financial instruments (stocks, options, ETFs, bonds, futures, FOREX, etc.) across interval periods of time, tick and volume.
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Thanks for the SKF daily and weekly. I appreciate your work. Do you think SKF will see 100+ again soon?
How can anyone trade on technicals in the face of the last 15 months of manipulation and propagandizing we've seen?
Dow down a bit too much for comfort? "Congress announced today that it is considering a plan to shore up large financial institutions with the unborn young of today's children by leveraging their earning potential into the year 2040."
Things running a bit hot? "The administration today announced it is canceling plans to buy back toxic assets at par from anyone who ever bought them, so long as they have alumni in the Treasury."
Things crash back again? "The Fed has announced it is supporting the proposed toxic alumni buyback program previously floated and scuttled by the White House."
I play online poker. Like the chat bar shows after every bad beat - "This site is rigged!!!1!"
how can anyone even fathom 'trading' on anything but technicals. i get funnymentals and psychology kinda pretty good and simply can't understand what goes on in others' minds (after years if not decades of the same fruitless result) when they throw monies into the wind w/o technicals & price action.
Well, normally, I'd take your point, but the fact is that the last 15 months have been a disaster for trading technically. Invisible bids supporting stocks that should crater, ramp jobs at 3:00 pm sharp in junk stocks, solid blue chips dropping on no news in an otherwise up day, etc., etc., ad nauseum.
It's rigged I tell ya! You simply aren't safe trading.
I actually own Citibank shares at 3.48$... a lot...
Seriously, what do you guys think, are the above charts to bearish or very well possible?
uhhhhh... your stuff is usually good. But technical analysis on leverage ETFs? Ca'mannnnnnn!!
not familiar with ca'man^x but c'mon man, whaddya suggest one do ? when enough news stories sound bearish enough about beheading bankstas then go make a play ?
What about the biggest zombie, that disgusting Wells?
wfc doesn't deserve a chart....after whomever is keeping a bid under wfc in the 27-29 range drops out, so will wfc!
You might have to wait for Warren to kick the bucket. Wells is the most foul piece of crap yet it continues to stay above the fray. Once they start choking on all that toxic crap (and they will) they'll be dead before anyone can think of administering the heimlich...
Danke!@!
No more counter trend rally: the SP00/DOW downtrend and the USD uptrend reasert their dominance yet again.
This is very bearish for equities.
http://www.zerohedge.com/forum/market-outlook-0
Thanks very much for the bank charts, love 'em!
"BAC flirting with death"...that was funny and enjoyable!
more info : http://stocknews.freeoda.com
So Marla follows fibozachi on twitter -- as an unabashed fib fan, i am in seriously good company.