Banking sector support indexes again, where is the profit today?

US shares is rising as investors accumulate mixed financial report results and rising oil prices. The SP500 marks a third consecutive day of growth, but remains bellow a key diagonal, that will prove decisive for the subsequent development of the index. Positions of SP500 remain risky. Tech stocks remain under pressure today, mainly because of IBM's poor financial performance. Banks continue to grow, as Morgan Stanley posted a good financial result for Q1 in 2018.

Here are the figures:
- EPS: $1.45 vs $1.25 expected.
- ROE: 15%
- Revenue: $11.1b. vs $10.363b. expected.
- Revenue from trading with fixed income instruments: $1.9b. vs $1.67b.
- Revenue from share trading: $2.6b. vs $2.24b. expected.
- Trusted revenue: $4.4b. vs $4.5b. expected.

The foundation a front of the bank seems promising, let's take a look at the technique.

What makes an impression while opening the chart is that despite the market's retracement at the beginning of the year, Morgan Stanley's price remains in a strong bullish trend. There is something worrying, however, and that is that record financial results have failed to enthuse the bulls. The price remains in a narrow range and does not indicate that there is a breakthrough in the upward direction. On the contrary, if we look in more detail, we will also notice the sharp rebound twice from the 50 periodic average downward - negative for the price. Supporting the short idea is also the countdown of the 1st of Sequential - the beginning of a new bearish momentum.

What do we do at this time? Since the price is in trend and at a key level of support, long positions are more likely and we need to wait for a breakthrough that will also trigger the flagship formation. If the price breaks down, it's a good idea to wait for the 200-year, and if there's a Price Action available for the long to position yourself long. If 200SMA falls, short positions will become more promising.

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