Monday, December 27, 2010

BAC Update

Financials have done well thus far this morning, that's why the S&P didn't drop like the NASDAQ. I talked about BAC Thursday last week.


 1 min 3C chart

 5 min 3C chart

15 min 3C chart


The 1 min chart shows a small bounce developing late Thursday, it's a bounce off support, but resistance s nearby and 3C hasn't confirmed the bounce. Watch for resistance near the $13.40 area, it may be a place to start phasing into a short position on BAC if you like the trade.

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