This was posted Wednesday 17 June 2009 on Trader Feed by trading psychologist Brett Steenbarger, Ph. D. It might be a long time before investors have confidence in banks and home builders.
Two of the sectors that failed to make highs along with the major indexes in June are now trading below their May highs: banks ($BKX, top chart) and homebuilders (XHB, bottom chart). It is difficult to imagine a sustained, vigorous bull market when the financial system and housing are not inspiring investor confidence.
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