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Thursday, February 26, 2015

$bac front-running or institution-unload

On the day headline CPI goes to deflation, some morning negativity to the banks seemed expected. But the treasuries shook-it-off!!

While the rest if the banks were shaking-it-off!!, bac was crap. All. Fucking. Day.

BAC is in limbo, technically. Its obvious assessment is negative because its below its 62sma support.

But with firming rates, I was expecting bac to start breaching the resistence, and test 17.25. Instead we got selling on higher volume. Almost as if an institution wanted to make the sales obvious. 

Hopefully the stress test acts as a catalyst to maintain the longer-term trends. If not, todays action is very suspicious.

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