Hi Martis,Your BOA chart caught my eye so I thought I'd add to...

Hi Martis,

Your BOA chart caught my eye so I thought I'd add to it.

With out trying to confuse you with my TA, I'll allure you to the simple price action on the chart.

It's quite obvious that BAC has been in a solid up-trend, with higher highs and higher lows. If you look a little closer though you can also see that on each pull back it's usually found support on the previous swing high and has never fallen much further( I've used green dotted lines to demonstrate). However, price has now fallen back past 3 previous swing highs( marked 1,2& 3), which it hasn't done since it broke out in late 2012( first red dash dotted horizontal line). It's also dipped below the high before the last down move in 2011( Red flag), which will often act as some type of support in a continued uptrend. What makes it look even more bearish though is that before it recently gapped down, it attempted to rally, however jammed up finding resistance below the previous swing low( last Green arrow). This is a classic bearish price pattern/ end of Bull run defined by the likes of Bill Mclaren.

If that break down doesn't prove false and sees price quickly recover, then it's looking very bearish indeed. There could be some great shorting opportunities perhaps using entrys off an hourly chart...