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Marty Chenard

Marty Chenard

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…

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Is it Time to Watch the Banks?

Can the economy still function normally with the Banks in trouble? That is a good reason to follow the banks, because if they get into trouble, theeconomy won't be far behind.

The Banking Index chart is posted below. It closed at 70.48 with our C-RSI at a good positive level of +7.57 yesterday.

At the same time, the Banking Index was only slightly above its support line, so this is a Test day. The Accelerator was positive with an up tick while the Timing Indicator was in positive territory and showing merged trend lines.

Banking Index Daily Chart

 

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