On Jan 13, ahead of earnings, we put out this note indicating that the odds favored higher financials:
Bullish Percent – What it says about Financials ahead of Earnings
With big bank earnings behind us, we wanted to do an update on where the Bullish Percent indicator is at present. It has moved from 26.47 on Jan 13 to 34.33 today. This implies there is plenty of room to run, but it does NOT mean it has to go straight up from here. As with all indicators, it is a barometer, not a crystal ball.
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