From Reuters today:
A judge on Monday rejected a proposed $285 million settlement between Citigroup
Inc and the top market regulator over the sale of toxic mortgage debt and
ordered a trial.
In a written opinion, Manhattan federal court judge Jed Rakoff said the proposed
settlement was "neither reasonable, nor fair, nor adequate, nor in the public
For their full article, here is the link:
Price on their stock, C, is currently trading below near-term major resistance, as shown on the 4-hour chart below...the last candle, which just closed, has formed a shooting star...will see where price goes from here.
Below is a 4-hour chart of the Financials, ETF, XLF. The last candle formed an outside bearish engulfing candle after hitting major near-term resistance...will watch 12.20 and 12.00 in the short term to see which way price breaks out.
Welcome and thank you for visiting!
The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
please read my full Disclaimer at this link.
UPCOMING (MAJOR) ECONOMIC EVENTS...
* Wed. Mar. 1 @ 2:00 pm ET ~ Beige Book Report
* Fri. Mar. 10 @ 8:30 am ET ~ Employment Data
* Tues. Mar. 14 ~ 2-day FOMC Meeting Begins
* Wed. Mar. 15 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference
* Wed. Mar. 15 @ 8:30 am ET ~ Retail Sales
* Wed. Apr. 5 @ 2:00 pm ET ~ FOMC Meeting Minutes