Looks like the FAS model from this last post on the banks was correct. It predicted one last small move to top of channel OR bouncing off mid channel before breaking down. This is not a normal little pullback breakdown IMO. This is the start of something big. Nothing goes straight up or straight down but I think the bull market in banks since 2009 just turned into a bear market. Yeah, I know, ridiculous to try to call the big moves so far in advance but my models have been working well for me so I have to just call it like I see it and then let the cards fall where they may. Besides, this is all provided for free in the name of financial entertainment. I hope those who switch from FAS to FAZ become very entertained over the coming weeks and months.
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