Mortgage Finance Index Update

One of the first groups of stocks that I turned bearish on back on May 20th was the Mortgage Financial stocks. If you recall I posted how this group of stocks was weaker than the rest of the market and was forming a descending triangle.

As you can see in the above chart, the Mortgage Financial stocks have fallen out of bed since that post. You can read why I was bearish back on May 20th by clicking here