Banking Index Update
At the close yesterday, the Banking Index showed strength but short term weakness.
The pluses were that the Accelerator and Timing indicator were in positive territory.
The minuses were that the Accelerator had a cross-over down tick, so some fatigue has come in. The Relative Strength pulled back (short term softness), while the RSI was still at a strong +11.18. (Typically, a high reading on the RSI can pull back and resume the upside afterwards.
Remember that Monday is a Holiday and the market is closed. Enjoy, and stay safe.