The XLF (chart above) is rallying and the volume seems to be missing in action. Is it me or does this bother anyone else.
The RKH (chart above) paints a similar picture. I continue to hear pundits say the regional banks did not make the mistakes the big boyz did. It seems to me the market thinks differently.
The chart on JP Morgan (above), has a very, very nice rally in progress. Yes, I know Jamie Dimon is the best, but he better hope volume shows up, and quickly.
The chart on Wells Fargo (chart above) has gapped up today. Remember my 20 yr chart on WFC a few days ago? $20 was the break down level. Note where we are rallying into it today.
The chart on Bank America (above) looks to show a bear flag. Again note the declining volume of the rally. Caveat emptor.
Lots of the talk about the good bank/bad bank scenario in the markets as the impetus for this. What can I can tell you except that there is no shortage of fools in this market. Markets rise and correct in bull markets and drop and correct in bear markets.
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