BAC, daily
BAC, monthly
Summary
*BAC was one of my 'holy trinity' for 2015, and so far.. it seems I've given it the kiss of death. I do still favour the financials for 2015 (higher rates are inherently bullish, despite what some might believe), but for now, the notion of a monthly close >$18... looks very tough before late spring.
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Suffice to say... the brief break above the key $18 threshold was brief.. and since New Years eve, BAC has been in a rather strong down trend.
Despite the broader market, I would expect BAC to at least hold the low $14s next week.
From there.. it will be critical for the equity bulls (not least those seeking broader strength across 2015).. to break a new multi-year high in the next multi-week up wave.
