Important Update on ... 'Watch the Banking Index ($BKX)'

By: Marty Chenard | Tue, Aug 25, 2015
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As we commented last week ... "Central Bankers are being reported as scared now, so caution is a very good thing to exercise at this point". (P.S. Hope you were cautious during the past week)

Today's chart is an update of the Banking Index. The Banking Index closed at 69.02. ts 4 CRSI was approaching an oversold level ... just as the Banking Index reached its lower support level on the posted chart below. Hopefully, that will turn out to be timely today.

While we could see an oversold bounce today, but the bigger concern is that the Accelerator and the Timing Indicators are trending down. So, medium term, there is a lot more work that needs to be done in order to reach a safer condition.

Banking Index Daily 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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