I know you may be busy with your work, but just stop by with the financial reviews some minutes to see how it is going on this week. These some minutes will be much helpful for your whole trading week.


A report today showed that banks do not have to make adjustments until 2019 on the amount of money they have to hold, which is used just in case there are large losses. The credit card industry, mortgages, and other loans will also see unique changes. Shouldn’t this be done in a year or less? Loans may be more stringent and this may cause more harm than good for the consumer. The reserves will be 8.5% of the balance sheet to meet the requirements.

News of growth in China and bank reform has given the market a boost this morning. This may shift trades from treasuries back into stocks. In the past 2 weeks the market has risen with hefty gains and seems to have the same attitude today. The bank stocks may gain steam today as companies have time to adjust. The Street takes this banking news as positive because there is a less of a chance that banks can topple the economy, like they did over the past few years.

The S&P was up 9.7 to 1113.80 and the DOW was up 78 points to 10471.00. The S&P can go higher if it goes past 1117.00 as there is resistance at this level. This level is important, especially when economic data comes in. 1030.00 level could be the next target.


Chart courtesy Gecko Software’s Track n’ Trade Pro
Past performance is not necessarily indicative of future results.

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