Weak Financials/Banks

Without a concerted strengthening in the Financials/Banks, it will be difficult for the Major Indices to continue to garner a meaningful rally, particularly in view of the comments I made in my post of July 19th.

The Daily charts below show market action, so far, as I write this mid-day on Friday...not an impressive or supportive showing in the Financials Sector and Banks.

Intraday volatility is building slightly in the VIX, as well, as the SPX:VIX ratio pair trades under 82.50 at the moment.