ANOTHER SHORT NOTE ON FINANCIALS

We have been telling you for about two weeks about our worry with the recent action in financials. They are being distributed with in our eyes, near term bearish patterns. We bring this up because since the election, financials led the market up. It is not a reach to say if they head lower, they can lead the market down. Today is another case in point. As we have said, a bunch report Friday and then next week. Stay tuned but so far, not thrilling. This does not mean the end of the world. Financials have had a big run and deserve a rest. But these markets do not usually have a gray area of trading. It’s been feast or famine. Again…stay tuned.