Weakness In The Financial Sector And How The Banks Are Breaking Down

There is a lot of weakness in the financial sector right now. 

I mean tons of it!

The overall market looks great, and it is quite surprising this market is still managing to climb higher with out the financials being on board. 

The earnings season hasn’t been kind to them at all, with each report resulting in a hard sell-off. 

I had Bank of America (BAC) up until last Thursday, but I sold before the first batch of earnings came out. And boy, am I glad. I took a +4% profit that would have been wiped out had I held on instead. 

But check it out, these bank stocks are really struggling, and it isn’t limited to just the mega-banks. The Regional ones are showing the same pattern as well. They all have this head and shoulders pattern that looks to be or has already confirmed a break of the neckline. 

Bank of America (BAC)

(Click on image to enlarge)

Goldman Sachs (GS)

(Click on image to enlarge)

JPMorgan Chase (JPM)

(Click on image to enlarge)

Citigroup (C)

(Click on image to enlarge)


(Click on image to enlarge)

Regions Financial (RF)

(Click on image to enlarge)

Print Friendly, PDF & Email

Author: Travis Esquivel

Travis Esquivel is an engineer, passionate soccer player and full-time dad. He enjoys writing about innovation and technology from time to time.

Share This Post On

Submit a Comment

Your email address will not be published. Required fields are marked *