Wells Fargo Trade

0945 CST

$WFC has had a recent 20 day peak and a selloff on earnings; it has also broken support yet again; it can go back to $20.

The peak of its 80 day cycle is rapidly approaching, and it can be expected to fail at resistance of any kind, which $48 seems like a good place today.

Its steadily under 100 period moving average andy bounces expected to fail.