Watch the Banking Index ($BKX) ...

By: Marty Chenard | Fri, Oct 14, 2016
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On a number of past occasions we have mentioned that a healthy economy cannot move forward without the banking system being healthy.

That is why we are publishing the Banking Index chart today as seen below.

When you look at the price chart, you will notice a bright red support line and that is an important pivot point where the index was at yesterday's close.

There is some hope when you look at the 30 RSI part of the chart as it was still positive and close to a support line. The not so good indicators are the Accelerator which is weakening and the Timing indicator which is positive buy showing a discernable drop in its rate of acceleration, so keep an eye on this index today and next week.

Banking Index

 


 

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.

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