This the daily chart for the Investment Brokerage Sector (National Brokers), which includes companies such as Ameritrade, the CME Group, Morgan Stanley, E-Trade Financial, Scwhab, Interactive Brokers and more, many of which are sitting precariously above very extended and well defined uptrend lines with solid negative divergences in place on just about all indicators and oscillators. Several of the names above will be added as short setups asap but I just wanted to get the chart out there as it is always best to align the trade of individual stocks with the chart of their particular sector. This is especially important [...]
I'm seeing a mixed bag of bullish and bearish charts when viewing the broad markets and key sectors from a longer-term perspective. For now, my longer-term bias remains bearish but I did want to point out some of the recent bullish technical developments as well as some of more bearish charts as well. I put together this video overview completely unscripted (pre-planned) just cycling thru the various key indexes and sectors from one of my watch-lists and in doing so, the video turned out quite a bit longer than usual. Here's the list, in order as covered, of the charts discussed [...]
for many months now, i have been highlighting the many technical red flags amongst the various components of the investment brokerage sector. since then, we've witness the collapse of PGF, yesterday trading snafu that may likely be the demise of KCG (a trading firm but categorized under the regional investment brokerage sector) and the charts on most of the retail and institutional brokerage firms that i've highlighted in recent months continue to deteriorate. here's LPLA, a stock i've highlighted before and previously mentioned as a short candidate. LPLA serves as a broker to the largest organization of independent financial advisors in [...]
Another broker (although smaller), same story.... Continue to monitor this sector as well as your own individual broker as the charts are still waving those red flags that all is not well in Brokersville: Updated July 9, 2012, 11:17 p.m. ET Futures Broker Freezes Accounts The U.S. futures industry faced another potential setback Monday after a midsize broker froze client accounts, disclosed that its founder had been hospitalized following a suicide attempt and faced closure after being accused of misstating financial records. [...]
the investment brokerage sector remains in a precarious technical position and continues to warrant close monitoring IMO.
another popular retail broker sitting on the edge of a cliff...
Although this video can be viewed in this window by clicking on it, it is best viewed by selecting the "Watch on YouTube" option at the bottom right of the screen and then choosing the larger player "[ ]" icon and 720p HD quality setting. http://youtu.be/exdiop9UocU?hd=1