Although shorts remain counter-trend trades at this time, the charts on many sectors as well as the broad markets indicate that at least a near-term correction is likely. I’ve been tracking several clearly bearish charts on the banking sector, both regional banks as well as the mega-cap financials, such as JPM, BAC, WFC, etc… FITB (Fifth Third Bancorp) is a Midwest regional bank offering an objective short entry following the recent breakdown below this uptrend line. The first & only profit target at this time is 16.92 with a suggested stop over 18.38.
