Watch The Banking Index ($BKX) ...

By: Marty Chenard | Tue, Aug 4, 2015
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The Banking Index is a key to the market and the economy.

Central Bankers are reported as being scared now, so caution is a very good thing to exercise at this point.

Below is a weekly chart of the Banking Index. Just before the 83.43 resistance level (see the horizontal red line) from September 2008, we will hit a 61.8% Fibonacci retracement. A good question to ask yourself is: Do we have the necessary growth to pay off the loans that are already in existence?

Banking Index Chart



Marty Chenard

Author: Marty Chenard

Marty Chenard
Asheville, NC 28805
Tel: 828-296-1200

Marty Chenard is an Advanced Stock Market Technical Analyst that has developed his own proprietary analytical tools and stock market models. As a result, he was out of the market two weeks before the 1987 Crash in the most recent Bear Market he faxed his Members in March 2000 telling them all to SELL. He is an advanced technical analyst and not an investment advisor, nor a securities broker. is dedicated to Stock Market Investors who want the best information on stock charts, stock market trends, stock market timing and technical analysis.

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