Looks like WFC and the financials have finished taking their sweet time consolidating for the last few (3-6 months). Looking to push higher if 10-year rates continue to move toward 1.7-1.8%. Would like to see 52-54 by end of October-EOY.
Comment:
BAC and JPM broke out yesterday. Looks like BRK-B is starting today, maybe shows it more so tomorrow. WFC ready to POP too. Getting tight at the top edge of the symmetrical triangle shown here. Target is mid to high 49's for bank earnings on October 13/14th.
Comment:
Sadly there was a sell off in earnings for banks then a rebound to ATH for several of the large guys but not all. WFC still on track to push upward due to retail data today. Next week will be positive... maybe I was a week early (too optimistic) on the mid to high 49s.