The blue trendline on the XLF is important and must be saved to sustain another rally for the market. Watch it. As the Fed may want to buy these depressed banks to lift the XLF.
Friday, October 15, 2010
Will the Fed step up to buy the banks?
Bank stocks are getting slapped today. JPM, WFC, BAC, MS all on very heavy volume. The only bank stock holding up well, of course, is GS.
The blue trendline on the XLF is important and must be saved to sustain another rally for the market. Watch it. As the Fed may want to buy these depressed banks to lift the XLF.
The blue trendline on the XLF is important and must be saved to sustain another rally for the market. Watch it. As the Fed may want to buy these depressed banks to lift the XLF.
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