The BKX rested on its 20dma on Friday....might want to retrace more....some divergences and looks as though it wants to revisit 43-44 again....that might help a pull back in the S&P....the market have sold the banks down....even JPM whose report they liked
The loan provisions of the big US banks certainly aren't going in the direction I thought. even though they look terrible compared to a year ago....suprising levelling off/reducing quarter by quarter....calm before the storm or the worst is behind us?.... who knows
Quarter by quarter Q3 2008 to Q3 2009 in billions....
BOA 6.4,8.5,13.3,13.4,11.7
Citi 9.1,11.3,10.3,12.7,9.1
JPM 5.8,7.3,8.6,8.0,9.0
http://stockcharts.com/charts/gallery.html?$BKX
33% of DOW weighting reporting this week - big night this Thurs 20%...so any Bull charge at 50% retraces and that down trendline might wait till then...
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