Earnings Fail To Inspire: Financials Slump Into Red... And This Chart Should Scare Everyone

Despite what is being called "solid" earnings from financials this morning, the initial bounce in their stocks has faded quickly into the red...

 

However, there is a bigger problem that should be on everyone's radar...

 

As BMO's Brad Wishak notes, XLF (the Financials ETF) failed almost to the penny at 2007's record highs earlier this year, and has broken down through trendlines since.

As Wishak concludes "one for the radar."

Disclosure: Copyright ©2009-2018 ZeroHedge.com/ABC Media, LTD; All Rights Reserved. Zero Hedge is intended for Mature Audiences. Familiarize yourself with our legal and use policies every ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.