January 16, 2015 – Steve Kalayjian with Market Makers.   The Dow Jones Industrial average closed down 116 points.   “Early this morning Bank of America and City Bank had disappointing earnings.   If there is any rally in the distant future”, Steve says, “he would be a seller”.   He has sell signals on the daily time frames in City Bank, Bank of America, Goldman Sachs, JP Morgan, and the exchange trader fund, XLF.   Any type of rally in those names would mean it is time to sell.   If these stocks stay where they are based on tonights close and/or open lower or close lower there will be a sell signal on the weekly time frame.  The market never goes up when the financials are weak.   Steve is a buyer on gold and if “gold pulls in between $12.15 and $12.20 on the daily charts Steve says he would be a buyer using an $11.80 stop.