Financials Lead The Market On A Big Drop! SPX, Nasdaq, STT, PNC, JPM, WFC, GS, AEM, PCP, IBM
Posted on January 20, 2009 at 20:12 PM EST
from MyHappyTrading.com by HappyTrading! ™ Sign up for FREE membership! This weekend, in my Market Forecast, I warned about the new “bearish formation” in XLF, the ETF for the financial sector. Right of the gate, the financials stumbled (STT -59.04%; PNC -41.4%; JPM -20.73%; WFC -23.82%; GS -18.96%), and SKF went sky-high (up +28.75% today)! [...]