anyone familiar with the wolf wave pattern smaller circle is a w pattern that may get to 1450-60 area,larger circle may or may not be the wolf pattern..flattened short at 27 75
If the banks are betting better growth contrary to FED statement, then they anticipate improve ment in profit picture next year. They could try to crawl higher but what would be easier to do is hit the market in anticipation of buying at better prices. Once enough short interest is in then gaps higher could occur. The market has to think a recession may be in the cards.
i haven't enough experience watching this pattern ,hence the question , but here's bearish look after a big up leg http://www.chart.nu/wolfewave.htm