Banks In Big Trouble — Don’s Daily Brief

by | Jan 13, 2023

Overnight, JP Morgan confirmed that an inverted yield curve is not good for bank interest income.

So you’re seeing the banking sector off significantly.

That’s only going to prove more challenging as the Fed continues to tighten, exceed expectations on the high side of interest rates, and drive this economy into recession.

Banks are going to suffer significantly as a result.

Yesterday, I had you go short Eaton Corporation if it went below a certain trigger level.

It did not hit that trigger level yesterday, but it still looks good and it’s just hit that trigger.

► The Volume Profile looks excellent for it, so today I want you to short ETN.

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The top idea from his daily scan ends up here.

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