AIG Breakout Failure

By -

The bounce most folks were expecting is in full force today, with just about all asset classes up. One thing I'd point out is that AIG, which had a terrific breakout on December 27th, has not only failed that horizontal line but has broken beneath its ascending trendline as well. This kind of failure of a bullish pattern is usually even more bearish than a bearish trendline break independent of anything else. 

0225-AIG