Wednesday, June 29, 2011

Financial Stocks - Notable Price Action

I think that the relatively poor "price action" of various financial stocks is notable.  It is one of many current indications that overall stock market health is not as strong as a casual glance at the major indices would indicate.

Below is a chart featuring the XLF (the financial ETF) on a daily basis since 2007.  As well, the S&P500 is plotted above it, with GS and JPM shown below it.  The blue line on each indicates the 200dma:

(click on chart image to enlarge)(chart courtesy of StockCharts.com)




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The Special Note summarizes my overall thoughts about our economic situation

SPX at 1296.67 as this post is written

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