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

By: Marty Chenard | Tue, Aug 25, 2015
Print Email

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
StockTiming.com
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.

StockTiming.com is dedicated to Stock Market Investors who want the best information on stock charts, stock market trends, stock market timing and technical analysis.

Be My Guest and Take Advantage of Our Free Membership ... Get a Free Membership to StockTiming.com ... Youll receive important daily messages before the market opens and direct links to todays important web pages. Information and messages that are often not posted on our website. There is no obligation or expectation on our part ... it is just our way of proving our accuracy and timing expertise to you. Please click here for your Free Membership.

Copyright © 2006-2017 Marty Chenard

All Images, XHTML Renderings, and Source Code Copyright © Safehaven.com