Where the Banking Index is ...
As we commented last week, without a fully functional Banking system we would be in trouble ... and the economy and the stock market would be in trouble ... so, that makes the Banking group important.
The current Banking Index chart is below. Note that the Banking Index has risen above its channel's down trending. (Friday's tick was an up tick.)
The Banking Index's Accelerator moved higher in positive territory, and its Timing Indicator was at a high positive with merged trend lines.
So, conditions remain short term positive, but be careful as Institutional Investors may challenge the Fed this week.