Goldman Sachs (GS) is a big name financial that broke out to new 6-month highs today. Citi (C) also broke out to new 6-month highs. Wells Fargo (WFC) was popping higher today, Bank of America (BAC) has been running, and JP Morgan (JPM) looks like it wants to take out all time highs.
The big US banks, brokers, and insurers are really moving. This trend has been building for a month, but the breakouts above previous highs have just been in the last week for most of them. I'd recommend taking the time to look across the financial sector.
Good trading,
Greg Schnell, CMT, MFTA.
About the author:
Greg Schnell, CMT, MFTA is Chief Technical Analyst at Osprey Strategic specializing in intermarket and commodities analysis. He is also the co-author of Stock Charts For Dummies (Wiley, 2018). Based in Calgary, Greg is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the CMT Association and the International Federation of Technical Analysts (IFTA).
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