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Here Are The Negatives In The Republican Tax Plan, According To Wall Street

Judging by the market’s euphoric reaction this morning, the Senate’s passage of the tax bill on Saturday is nothing but good news for stocks (well, maybe not the Nasdaq). And indeed, banks – whose effective tax rate is around 30% – and other tax-sensitive companies are surging, with banks are outperforming and  sending the KBW […]

Is Tax Reform A Done Deal? This Is What Wall Street Thinks

Following the backing of Sen. John McCain on the GOP tax reform bill, markets have surged to new all time highs as tax-sensitive banks lead the way, with Bloomberg reporting that odds for the tax bill's passage may increase to "near-certainty" if the Senate can finish its version in the days ahead, citing Evercore ISI.  […]

From “BTFD” To “Sell The Rip”: Global Stocks Slide, Nikkei Tumbles, Pound Plunges

S&P futures gave up early gains and were trading down -0.2%, as Donald Trump completes his first Asian tour and as pressure mounts on U.K. Prime Minister Theresa May, sending the pound plunging. European stocks fell, tracking many Asian shares as the Nikkei plunge accelerated. In Europe, the Stoxx 600 fell as much as 0.4%, […]

Pigs (Piggy Banks) are flying high and breaking out!

Some question if “Pigs Can Fly.” I don’t know if they can or can’t, of late though, Piggy Banks are flying high and breaking out. We have highlighted positive bank patterns of late and three weeks ago we shared that the banking sector was sending bullish signals and Regional Bank ETF (KRE) looked like they were ready […]

Stock Bulls-This has me biting my nails!

Earlier this week we sent this message to Premium and Sector Members and I wanted to share it with our viewership today. Below looks at the Bank Index (BKX) over the past 20-years and why the Power of the Pattern feels this could become a very important price point for the bulls. CLICK ON CHART TO ENLARGE As mentioned in the […]

JPM Short Circuits & Banks Bump Up Into a Glass Ceiling as Semis Soar, Bitcoin Blasts & Block-Brain’d Sir Jamie Eats Crypto Crow

JP Morgan (JPM)   Having notched an all-time high by closing at 97.35 on 10/3, JPM appeared to be consolidating over the next 6 sessions – in preparation for another surge higher. But 10/12’s Q3 earnings release session suggests that immediate bullish momentum may have been exhausted and, with it, Sir Jamie’s next (ever-so-lovable and antithetically […]

Banks breakout of upper level basing pattern-

Since the first of this year, banks didn’t have much to brag about, as they lagged the broad market to the upside. While lagging, they potentially built a base that could reward the owners of banks for a while going forward. Below looks at the Bank Index (BKX) over the past 6-years- CLICK ON CHART TO ENLARGE […]

Regional banks testing bull flag breakout level

Assets in rising trends often create what is called a “Bullish Flag” pattern. Below looks at the price pattern of Regional Banks ETF (KRE) over the past decade and highlights that a bull flag pattern could be in play. CLICK ON CHART TO ENLARGE Earlier this year, KRE broke above 2007 high levels. After breaking out, softness […]