Banking Sector Analysis
by Mike Paulenoff, www.MPTrader.com
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Below is a newly created daily sector chart for the big investment & trading banks accompanied by a chart of the cash S&P 500 for comparison and relative strength purposes.
The SPX currently is on a bullish signal. Only a decline that breaks 1277.50 will neutralize the signal.
Goldman Sachs (GS) currently is on a near-term neutral signal, but will shift to bullish on an upside hurdle of 106.10.
Morgan Stanley (MS) currently is on a near-term neutral signal, but will shift to bulish on an upside hurdle of 17.50.
Bank of America (BAC) is on a near-term bullish signal and will remain so unless it breaks below 6.00.
In the coming weeks, MPTrader will be offering a nightly service with charts like this covering all the major sectors and their key component names. We welcome your feedback based on this chart as well as well as any suggestions for the new service. See our contact page.
