The Federal Reserve announced that large banks can start stock repurchase programs at the beginning of 2021.
We are excited to announce phase three of the Nasdaq Dorsey Wright Model Builder with the launch of Matrix and FSM-based Relative Strength (RS) Testing Service. As part of this launch, we are granting you free access to the service for the remainder of 2020. The tool is designed to help you more easily design, test, implement, and monitor custom models powered by the Nasdaq Dorsey Wright methodology. Please see below for replays of our latest webinar series covering the different aspects of the tool.
11/19/2020: Static Model Builder Demo Replay - Click Here
12/9/2020: Matrix Model Builder Demo Replay - Click here
11/5/2020: FSM Model Builder Demo Replay - Click here
On December 18th, the Federal Reserve announced that banks can begin share buyback programs at the beginning of 2021. In June, the Fed required banks to halt buybacks and capped their dividend payments based on recent income. A few large banks wasted no time starting up their buyback programs, as JPMorgan Chase’s board approved a new share repurchase program of $30 billion and Goldman Sachs announced it intends to resume its share-repurchase program next quarter (Source: Barron’s). A couple of large banks that are exhibiting signs of technical strength are Bank of America BAC and J.P. Morgan Chase & Co. JPM which are both 4 for 5’ers and trading in overall positive trends. The financial sector as a whole has seen a vast improvement over the past few months, evidenced by the Financial Select Sector SPDR Fund’s XLF positive score direction of 2.25. XLF currently has a fund score of 2.97 and is right on the cusp of moving above 3.00, which is generally considered technically acceptable. On the Asset Class Group Scores page, the Financial-Banks group has an average group score of 3.97 along with a highly positive score direction of 3.15, furthering the positive developments for the sector.
