Investors don't like banks anymore. Inflation feels to be under check or not a concern at the moment and the US10Y on a decline. Interest rates are not going anywhere for now. So there will not be much of a demand for banks.
Today BAC broke below its 5-month trendline and should go back to test the upper channel of pre-pandemic (see the weekly chart). There is a chance that this was a bear trap so we shall wait for a confirmation. Remember the 2 days or 3% rule.
Today BAC broke below its 5-month trendline and should go back to test the upper channel of pre-pandemic (see the weekly chart). There is a chance that this was a bear trap so we shall wait for a confirmation. Remember the 2 days or 3% rule.
Market Maven: Never Miss a Move.
Disclaimer: This is not a financial advice and all posts are for educational purposes only.
Disclaimer: This is not a financial advice and all posts are for educational purposes only.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Market Maven: Never Miss a Move.
Disclaimer: This is not a financial advice and all posts are for educational purposes only.
Disclaimer: This is not a financial advice and all posts are for educational purposes only.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.