20% of SPX earnings now (sector weighting) is Financials so it would pay us to watch this sector closely?
BKX Banking Index flat performance for a year and a half in the face of weakening technicals like lower highs in MACD
Financials Select offers similar picture, 4 strikes you're out?banging at the door of previous highs while momo flags.
While relationship of SPX and VIX reach levels never seen before, 30% above 2000 BUBBLE
Weekly sell in CITI? how could this be? given the stimulus liquidity picture?
JPM sporting similar look as 1998-2000?
What's wrong with WalMArt? Can't stay above $50
The bell TOLLS for RYL, look at 2000 price! 5 years straight up,more to follow?
ODD 5 yr gone nowhere behaviour from large credit card co?
Some fortunes reverse KKD Some fortunes wiped out along the way.
MER, financials make up HUGE part of weighting in SPX, but WHERE is the performance?
TRANS consolidating for another new high? even so, the MACD would be wellbelow previous peak.
With the BDI back to 2003 levels falling HARD from 2005 highs, this is in direct conflict with MANY other bullish signals.
Like in late 90's, then the NET drove job growth. Now so does Housing, only Housing. Into Banks, lenders mortgage depts, real estate brokers, lawyers,contractors, home depot, demand for plywood etc, furnishings, wall street.......
WHEN THIS BUBBLE POPS, can you see WHY it will drop us to our knees?
Duratek
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