On the multi-year chart, notice the financials are trading at a multi-year low. Considering the current environment, this should not be surprising.
On the yearly chart, notice the financials have been headed lower for the entire year.
On the daily, three month chart, notice the following:
-- Prices are below all the SMAs (including the 200)
-- All the SMAs are headed lower
-- The shorter SMAs are below the longer SMAs
Bottom line: this is a bearish chart.
