5 Financial Charts in Critical Territory

Today it was announced that Spain's banks will be receiving a bailout of 100 billion euro.  Yippee!  Let me check the markets.  They're down?  I though bailouts were good?  Isn't that how it works, banks get bailouts and the market rallies?  We'll unfortunately that's not the case there still much uncertainty to be resolved in the coming weeks, namely the Greece election.  The U.S. financial sector is leading most of the sectors down today.  Not encouraging.  Another discouraging sign for financials is that since August of 2009 the XLF is flat. Zero.  So right now there are 5 financial stocks that I see running into some stiff resistance and we could see the affects this week and next.


Bank of America (BAC)



JP Morgan (JPM)



Citibank (C)





Morgan Stanley (MS)





Bank of New York Mellon (BK)




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Disclaimer: This article is intended to be informative and does not constitute a buy, hold, or sell recommendation., and should not be construed as personalized advice as it does not take into account your specific situation or objectives