Financials tend to lead the markets but this isn't set in stone. With that said, fin indx near 52 low under 10MA with good vol. close eye.
The bank index is getting a lot attention...lots of sellers are getting in on the action, trade with caution on this one !
I am not one to like the earnings reaction at all with the banks but there is signs prices are trying to move hire. Now we had an incredible earnings week, so this little up tick could be deceiving. I would of muck preferred a squeeze off support here. Since, we don't see that, very difficult to call a long. This is also a start for a new month. My market...
I use this index to monitor the U.S. banking sector A solid break below 101.39 would suggest retest of 89.13. Alternatively, we can also count pink wave 5 as 3, but looking at the Fibonacci relationships between each sub wave, i think this pink labeling is a high confident count. some interesting facts: wave 3 equals to approx 2.618 times the length of...
Looking at the big picture for the Financials, one have to wonder if they are not building a very powerful Third of Third wave that would propel the index to serious new high in a very short period of time. Long term forecast can be tricky but nevertheless any Ellioticians looking at that chart cannot deny its potential. In other words, the chart sports the right...
Seems the party is over for BKX since march, a leading sector for the stock market, now 4% away from its high while the party is still on for Dow, SP & Nasdaq; careful, music will soon stop...gl & gt
Trend line resistance, 50 d sma. Possible Geo. 61.8 Fib.
Market Consenus View: The "Trump"-Bankrally is overdone and there might be no more potential to the upside. Today the BKX is telling a diffrent story. There might be more potential to the upside, unexpectedly So watch this index also closely like NASDAQ Comp., SPX, Dow Transportation, the DJIA and the majority of all European Stockmarkets. All Indices showing...
Also here is weakness aproaching. Look at it and trade if you see a chance. There is a good chance, that we reach the Centerline some time.
18,150 area in monthly closing is critical for $DJIA
Looks like it... Drop below moving averages would be very bearish
Weakness here maybe will drag $DJIA down too
Related to the reflation theme described in my view "Crude Oil: The Most Important Chart in the World". This trade relates to a steepening of the US yield curve as rates adjust upwards through either rising inflation or a pickup in US growth (or both) having been driven to a record low in June. BKX Index (candles) BKX / SPX (blue) US10Y (grey) What is...