Scott Redler’s Dog Bytes: Nowhere to Hide in Banks

I got out of my banks last Wednesday because I don't hold through earnings - which is a good thing considering how these names are acting after the prints. JEF and JPM got hit on results. GS under pressure this morning. XLF held the $40.34 pivot. See if that holds.

JPM underwhelmed on earnings and had a big gap down with a hole in its chart. Sometimes there is a better entry the week after earnings. See how this handles Friday's low of $156.90 and I'll see patiently if I want to enter again.

GS failed to impress exactly when Wall Street said you had to be long banks. Now they are testing the 200 day. See if GS can hold the $366 area. Otherwise it can go a lot lower.

Positions Disclosure as of 1/18/2022 at 8:51 a.m. ET