Looks to me like BAC could be about to crater based on a terminal rising wedge it is tracing out with confirming fading volume, negative diverged RSI sell signal and interest all dried up on that last breakout higher. Also with IYG looking like it has finished clearing out all the buy stops going back to May I'm thinking it will not take much effort to slice down deep in some of these bank stocks in the coming days...
Tuesday, August 18, 2009
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