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business newsWatch: Financials on the Edge of a Cliff?
Precarious position borne out by XLF, AXP.
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I'd like to begin adding some audio/visual analysis to my posts, as I think it can be very beneficial. If you agree and would like to see something similar to this more often, please let us know.
We find ourselves at a precarious position with the financials, as noted in the video below, by XLF wedging above and below 2 critical technical levels. I believe this can best be seen through American Express (AXP), which just may decide the fate of today’s move.
Drilling down we see that Gold (GLD) continues to break out however I would not be chasing the move here and remain patient waiting for a more prudent entry.
While I remain long a touch of Real Estate Short (SRS) the commercial real estate names are making their way onto my radar with Equity Residential (EQR), Kimco Realty (KIM) and Avalonbay (AVB) consolidating above critical break points. I have not taken any of these names just yet, but am watching for a break.
So, here is our first video installment. You'll have to click on the image to open in a different window while we work out the kinks with the embedding process.
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