BAC: Big banks kick off earnings season, often set the tone
Earnings Season is approaching soon again. The Big Banks are usually the first industry to kick off the earnings season and often provide an indication of how the earnings season will play out. Checking the largest banks' trendline patterns shows more selling than buying. BAC had 4 big down days recently and is now hovering at a gap support level. The bank may initiate buybacks to support the stock.
Martha Stokes, CMT
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