Trust Issues

Regardless of what happens with DB and the interplay with banks and markets, as per my prior post, Wells Fargo still clearly has some issues.

On the monthly chart, below, note that risk remains lower for the potential bear flag breakdown. Thus, cautious view of WFC remains likely correct. As they say, where there is smoke there is fire, and some more bad news may be in store for what has long been considered to be the white shoe bank of Wall Street. 

Elsewhere, the market is lingering at 2150 on the S&P 500 Index, with a mixed bag, at best, below the surface. I want to see how we close today before jumping to too many conclusions. But it is worthwhile to keep a list of relative strength names today, holding up well. I will run Members through them in my usual Midday Video.