Two Ways: New Changes Threaten Bank Earnings
Strengthen your portfolio in good times and bad.
See the related article, Vitaliy Katsenelson's Where's the Upside in American Express?
From the Bull Pen: Bulls can look elsewhere. See General Dynamics (GD) breaking out of a 10-month range. One can set a sell stop 2% below entry.
From the Bear Cave: For banking bears, consider whether American Express (AXP) is tracing out a head & shoulders top. Those playing the downside can set a buy stop above $34.50. The pattern may be appearing on the financial ETF (XLF) as well. A buy stop can be set above $14.80 for those considering that play.
Quick Check Around the World
Asian trading closed with the Nikkei -0.78%, India 0.37%, Hang Seng -1.04%, Shanghai 0.54%, and Taiwan 0.87%.
Across the pond, we see the FTSE 0.50%, CAC 0.28%, DAX 0.50%
As of 8:05 a.m. EST, S&P Futures are trading +0.000 to 1025.00 and Nasdaq futures are -0.250 to 1655.00.
A Look at Commodities
Over in commodities, crude oil is -0.09 to 71.01 while gold is -1.70 to 998.10 this morning. Silver is -0.14 to 16.37 and copper -1.450 to 292.00.
The dollar index is -0.1000 to 77.2400.
On the Radar
10:30 Crude Inventories
02:00 Fed's Beige Book
Click here for the full trading radar.
Already Hump Day! Good luck!
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