Stock Waves Charts of the Day: Eye On Financials
By
Zac Mannes
Our Stock Waves Charts of the Day video last night covered some of the big caps we follow, starting with PFE. The ideal here would be for PFE to hold the 44-43 region and bounce towards 48 as a B wave.
The video also covered some financials stocks, per our member requests, which are starting to show a little more weakness after the extension they got into the June high.
Looking at JPM, as long as it stays under the 163.50 region, it's considered bearish and setting up for more of this larger (B) wave lower into the 130s to set up the next bigger swing to the upside.
BAC is in a similar pattern as JPM -- i.e., in a wider flat of the (B) wave down.
MA, on the other hand, another financial name, is holding the A and B of wave (3) in the larger diagonal, targeting the 515 region as the wave C of this (3).
Other stocks we covered in our Charts of the Day video are BRK.B, DIS and MCD.
