Thursday, November 3, 2011

Financials

I went looking at Financials expecting to find trouble and did.

 Another simple attempt to fill the gap, like I mentioned several times, if the middle men were caught on Monday with long inventory at Friday's levels, they'll try to fill the gap as much as they can. XLF... Almost, but still leaves a sort of Island top.


 Here's today's action almost filling the gap. Note recent volume.

 Recent volume and recent 3C makes sense. 1 min

 XLF 2 min

The MF Global event and it looks a lot like Jefferies is next, Wall Street smalls blood in the water, could very well be precipitating that Lehman 2008 environment I've mentioned so many times this week. One moment they are here, a week or so of rumors float, the stock crashes and before you know it they are gone.

I really didn't expect Europe to hit the US financial system this fast.

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