Is the Banking Index in Trouble?
This morning, we will post an update on the Banking Index. The market is looking more positive again, but it may well be only the amount of Inflowing Liquidity that is giving it wings. We shall see in the next few days.
So, let's get back to the Banking Index chart. The Relative Strength was slightly positive, the Inflowing Liquidity was neutral, and the Timing Indicator was negative and showing less acceleration to the downside. The net was a mixed condition yesterday, in spite of the general market's up movement in the past few days. This opens up a future formation possibility of a Head & Shoulders pattern in the coming days.
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