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« NYSI nearing a danger zone | Main | Who dat charts »
Wednesday
Feb102010

Financial stocks and the overall market

DateWednesday, February 10, 2010 at 7:52PM

Financial stocks have been weaker then the overall market. The financial sector used to move intandem with the market.  While the market has remained above its 200EMA, financials have moved below and have been unable to to move above it. This is a sign of weakness when looking at a stock.

XLF:  Notice how XLF broke below a strong volume level.  More notes on the chart.


MS- stock has been weak but is nearing a possible death cross.  A short-term move to the 200EMA is possible.  But long term the stock looks unhealthy and would need to get back above the 200EMA to be seen as bullish.

SPX: nothing new, market is chopping before its next move.  Watch the 1071.92 level.

AuthorPikertrader | CommentPost a Comment | | |
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