The banks are in self preservation mode.
- Eric Von Baranov
Nothing we did not know and nothing that wasn't dropped like a bag of hammers on Count De Money, er, Henry Paulson back in 2008. But the stock market changes its mind like a girl changes clothes. (Don't flame me, ladies, its a Katy Perry song). Check out this chart of the Banks ETF.
No matter what I think of the market or banks or anything else, this is a resistance breakout following a small pause.