After the shares of each of the five initially opened higher the share prices for all of them fell and closed lower on the day of their earnings releases as compared to their prior day closes. The inability for the shares of the five financial institutions to advance back toward their early 2018, much higher highs further supports the fact that the major indices have seen their all-time highs for the secular bull market that began in 2009. The lackluster performance of the shares of the five is the 11the nail in the 2009’s Bull’s coffin.
The chart below is for the XLF which is the primary ETF that traders utilize to trade the banking and financial services industry. That the XLF has not been able to eclipse its previous all-time high in 2007 is telling.
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