Failure to exit the Brown Bear Channel will favour the Bearish-Bent. Which would target the $60-Level. Failure there would target the confluence of Lwr Channels Parallels...
I have always believed that it is difficult for broad equity to do well if banks are struggling. Credit makes the economy go, and if banks are impaired, credit suffers. Historically, when bank credit contracts sharply, the economy slows.
Admittedly the relationship hasn't been as strong over the last twenty years as monetary and fiscal stimulus have made...
The KBW Nasdaq Bank Index ( BKX ) is a benchmark index that tracks the performance of leading US-based bank companies. The components of the BKX index as of my knowledge:
Bank of America
Bank of NY Mellon
Capital One Financial
Citigroup
Comerica
Commerce Bancshares
Cullen/Frost Bankers
Fifth Third
Huntington Bancshares
JPMorgan
KeyCorp
M&T Bank
Northern Trust
PNC...
The KBW Nasdaq Bank Index (BKX) is a benchmark index that tracks the performance of leading US-based bank companies. The components of the BKX index as of my knowledge:
Bank of America
Bank of NY Mellon
Capital One Financial
Citigroup
Comerica
Commerce Bancshares
Cullen/Frost Bankers
Fifth Third
Huntington Bancshares
JPMorgan
KeyCorp
M&T Bank
Northern Trust
PNC...
Banks are raising the reserve lvl in anticipation of the rising loan default. Facing weaker loan demand, banks tightened standards across all categories of residential real estate (RRE) loans and across all three consumer loan categories. In addition, banks also tightened their standards and terms on commercial and industrial (C&I) loans to firms of all sizes.
Here's a chart of the Nasdaq Banking index showing that things could really be hanging in the balance at the moment. On the one hand this count suggests we may be in the final C wave of a long, flat correction that began back in 2007. On the other hand, if the said correction in fact completed back in 2009 then we could perhaps expect the bullish alternative and...
As we contemplate the convergence of long-term US rates with that of Europe and Japan as well as the Japanification of the global economy, it is useful think about the potential impact on banks. Yes, low rates are not good for banks and as we have seen in Japan, perpetual low rates does not equate to an increase in velocity of money. That chapter in financial...
BKX (Nasdaq bank index) has just broken above the Lower High trend line (dashed lines) of the 1W bearish (pull back) leg within the greater pattern of the multi year Channel Up since 2012. The technicals have turned bullish on 1W (RSI = 59.797, MACD = 1.140, Highs/Lows = 5.1079) and even the RSI is on identical levels with the last time a similar break out took...
Hey traders,
I won't comment on this one and will just let the data and idea speak for itself. IF this happens its going to be a very painful period for many on the lower-bound of income generation who rely on credit creation to make ends meet. Please consider philanthropic endeavours from any capital made on this trade. Godspeed.
***This is not investment...
The selloff has been fairly steep in this index as we now trading below the descending channel. We are very oversold here, so let's look for a re-entry back into the channel and see if we can hit channel resistance before we get another consolidating sell-off.
Here's the weekly snapshot:
We can see we are close to the EMA200 and will probably need to retest...
