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.
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