SC Santander Consumer . RSI & CCI reversing at double top. Price at multi-year hi w/decreasing vol.
Catalyst: $66 billion, or 5% of outstanding #autoloans are over 90 days delinquent (up $57B prev yr, & $35B prev decade).
Catalyst: $66 billion, or 5% of outstanding #autoloans are over 90 days delinquent (up $57B prev yr, & $35B prev decade).
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SHORT of $SC looks good again at these levels. The economic drivers are puttering and this thing is running on fumes with a flat tire (highly correlated industry).