The Banking Index ...

By: Marty Chenard | Tue, Oct 4, 2016
Print Email

At the end of this past June, the IMF commented that Deutsche Bank appeared to be the most important element to the inherent risks in the global banking system. Last week, Deutsche Bank was having problems which they seemed to be underplaying. If Deutsche Bank isn't having any difficulties, why are they preparing to eliminate 1,000 jobs this week?

Bloomberg news commented that Deutsche Bank was trying to reach a settlement before next month's presidential election with U.S. authorities demanding a fine of up to $14 billion for mis-selling mortgage-backed securities.

With that background, let's keep an eye on the U.S. Banking Index ($BKX) chart that we posted below.

The Banking Index closed at 70.61 with the 30 day C-RSI at a Caution level of +2.32. The Accelerator was in positive territory while technically down trending and showing a fast indicator up tick. The Timing Indicator was in low negative territory with a lower tick and showing down trending. The Banking Index was in a Very High Risk 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