We know they are weak.. what we are watching for is any signs of a bottoming process.
Here is the Canadian Dashboard.
Here are the US Banks
Here are the Investment Banks
Spanish,Dutch, German and Swiss Banks.
The French and British Banks
As of writing this morning, every bank is below its 10 week. Lots of the banks have taken out the September lows. Credit spreads continue to widen.
We are still making lower highs and lower lows. That holds true for USB as well, which has the strongest 'uptrend' in a down market.
Caution is advised. Potholes still exist.
Greg Schnell, CMT