Week 19 Financials Trending and Performance

Today’s market action was a nothing-burger. Basically, flat and seems like the market is waiting for things to happen instead of making things happen. That is fine by me. I am still positioned short the equities and long the precious metals.

Trending Heat Map

Plenty of changes as highlighted and most of them are indicating trending to the downside. Even the mighty JPM has lost some ground. The other big banks such as WFC, GS, C and BAC are now trending perfectly bearish. And MS is close to that as well.

Interestingly, ARKF which is the new world financial is doing better than everyone else and actually trying to improve its trending.

Performance

There really is nothing good to write about based on the above table and the trending heat map. It just looks very dire and poor. I do not know what can bring back the energy back in the banks. They are just in very bad shape.

I have been playing the KRE to the short side and currently maintain a short position as well. Needless to say, this has been a highly profitable trade.