Sunday, 28 February 2010
Banks Could Take Hit
Woah - potentially very bearish data for U.S. financials in Friday's Commitments of Traders report. Check out my latest signals table for more details. I'll be back here later with a fuller update. No bearish signal for banks just yet, but the data doesn't bode well. A bearish signal is possible in two weeks' time. As well, the data, which correlates strongly with the BKX U.S. Bank Index, suggests a risk of weakness ahead.