As in Squeezy The Shark and the Meredith Whitney kind...
The financials are leading the market higher again intraday - this has basically been the tale of the tape since Meredith started her own firm under the flag of everything Depressionista. Financials straight up into the right, in classic contra indicator form. We appreciate the work you did Meredith, but is the bearish dogma perpetual?
My math has the bullish breakout line for the XLF (Financials ETF) at $9.31 (thick green line in the chart below), and TRADE lines of resistance up at $10.51 (we're a dime away from that chum line intraday here) and $11.69, respectively.
Keith R. McCullough
Chief Executive Officer