Investors don't like banks anymore. Inflation feels to be under check or not a concern at the moment and the US10Y on a decline. Interest rates are not going anywhere for now. So there will not be much of a demand for banks.
Today BAC broke below its 5-month trendline and should go back to test the upper channel of pre-pandemic (see the weekly chart). There is a chance that this was a bear trap so we shall wait for a confirmation. Remember the 2 days or 3% rule.
Today BAC broke below its 5-month trendline and should go back to test the upper channel of pre-pandemic (see the weekly chart). There is a chance that this was a bear trap so we shall wait for a confirmation. Remember the 2 days or 3% rule.
