Wells Fargo

  • WFC

  • $70.44

  • -0.51%

  • $70.85

  • $71.05

  • $70.02

Ticker Appearances

Fri, October 11, 2024 | 9:44AM ET

⚡ FlashInsights

Fri, October 11, 2024 | 9:44AM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy
🔥 🔥 🔥
Bank earnings have gotten off to a very good start, with JPM -0.63%  having beaten 3rd Q results and raised key metric in its 2024 guidance. WFC -0.51%  also beat expectations on profit as did BK -0.93% . Many fundamental analysts are calling JPM's net interest income of $23.4 b a "huge beat", even when mgt tempered expectations. BK monthly charts, shown here, exceeded all-time highs and have achieved a huge 2 decade breakout back to new all-time highs which happened back in July. Price is up at 75 and very stretched but could get to 78. BK is one where it would be better to buy weakness in the high $60's. However, entire Financial sector broke out earlier this week and bodes well for outperformance, which at 12.5% of SPX, is important as a tailwind for the market
Tickers

Daily Technical Strategy
Fri, April 12, 2024 | 6:53PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Financials nearing short-term support but selectivity remains key

THIS WEEK’S SELLOFF LOOKS TO BE NEARING IMPORTANT SUPPORT HEADING INTO NEXT WEEK WHICH SHOULD ALLOW FOR SOME STABILIZATION AND A SNAPBACK RALLY INTO LATE...

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Daily Technical Strategy
Fri, April 5, 2024 | 6:59PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Surveying Financials Sector ahead of Bank earnings next week

I CONTINUE TO SEE THE US STOCK MARKET AS BEING ATTRACTIVE, TECHNICALLY SPEAKING, AND DO NOT FEEL SUFFICIENT RISK IS THERE TO WARRANT A SELLOFF...

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Daily Technical Strategy
Fri, April 14, 2023 | 5:26PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Financials strength should be a positive for the back half of April

Despite the mild pullback to take away some of Thursday’s strong gains, this week managed to close firmly positive for both the SPX and DJIA...

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Daily Technical Strategy
Thu, March 9, 2023 | 7:24PM ET
Mark
Mark L. Newton, CMT AC

Head of Technical Strategy

Financials breakdown vs SPX will lead to further underperformance

The worse-than-expected Jobless Claims number Thursday (211k vs. 195k expected) caused a big Treasury rally but failed to lead stocks higher, given the big decline...

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