Watch the Banking Index ...
The Importance of Banks ...
Without a fully functional Banking system we would be in trouble. The economy and the stock market would be in trouble.
And so, today we will look at the Banking Index ($BKX). Below is its chart that goes back to 2003. Note the peak high in 2007 and the peak low in 2009. The drop from the peak was huge and our entire system was tested.
Since that bottom in 2009, we have been in an up trend because the Banking Index has made higher/highs and higher/lows.
And now we may be at a juncture where the up trending gets tested and/or we test the possibility of a Head & Shoulder pattern on the Index. So, be careful and keep an eye on the Banking Index.