• 2 hours Big Banks Are Cashing In On Recession Fears
  • 4 hours Unpacking Biden's $2 Trillion Green Energy Plan
  • 18 hours The Investment Sector Defying A Global Pandemic
  • 20 hours Face Masks Become The Key To Economic Recovery
  • 24 hours Impact Investing Remains Strong Despite COVID-19 Market Downturn
  • 1 day Global Stocks Are Soaring On Fresh Vaccine Hopes
  • 1 day Rethinking Mining: A $10 Trillion Opportunity
  • 2 days Smart Investors Are Betting On This COVID-Proof Industry
  • 2 days Disney’s Digital Pivot Could Be Its Saving Grace
  • 2 days What Does Tesla's Million-Mile Battery Mean For Green Energy?
  • 2 days U.S.-China Tensions Are Reaching A Boiling Point
  • 2 days Gold Remains Strong Amid Increasing Economic Uncertainty
  • 3 days Morgan Stanley And Goldman Sachs Are Betting Big On This Budding Industry
  • 3 days Global Corporate Debt Soars To $9 Trillion
  • 3 days The Fed’s Slippery Slope
  • 3 days Precious Metals Pulled Ahead Of The Pack In The First Half Of 2020
  • 3 days Tesla Faces $20 Billion In Short Interest
  • 3 days China's Economic Recovery Remains Tepid
  • 3 days Silver Inches Closer To $20
  • 3 days The Secret Life Of Lithium
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

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…

Contact Author

  1. Home
  2. Markets
  3. Other

Keep an Eye on the Banks?

The economy and a strong Banking background go hand in hand. How could you have a strong economy with the Banks in big trouble?

And so, with that correlation, we will look at the Banking Index today.

This morning, we posted the Banking Index chart (the $BKX).

When you look at it ... First, look at the pricing bars and note how the pricing made a lower high in November-December of 2015, and then a lower/low in January-February of this year. Since June-July (of this year) the Banking Index has made a higher-high and has risen above its down trending channel ... a plus.

The odds are high that this is the beginning of some longer term up trending action.  While that is a plus, note the upper resistance (horizontal) lines that it will soon face. It may be after the November elections, but when it happens, it will be a formidable test to face.

Banking Index Daily Chart

 

Back to homepage

Leave a comment

Leave a comment