The Banking Index's Big Picture ...

By: Marty Chenard | Tue, Sep 20, 2016
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Today we are showing a Point & Figure chart of the Banking Index.

What I would like you to note is the thick blue trend lines from 2007 to now.  That is a triangular formation and it should break out of the converging resistance and support lines very soon.

Here is the issue ...

If it breaks to the upside that should be positive for the markets, but if it breaks to the downside it could be an awful event so please be cautious.

Banking Index Point and Figure Chart

 


 

Marty Chenard

Author: Marty Chenard

Marty Chenard
StockTiming.com
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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.

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