• 697 days Will The ECB Continue To Hike Rates?
  • 697 days Forbes: Aramco Remains Largest Company In The Middle East
  • 699 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,099 days Could Crypto Overtake Traditional Investment?
  • 1,104 days Americans Still Quitting Jobs At Record Pace
  • 1,106 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,109 days Is The Dollar Too Strong?
  • 1,109 days Big Tech Disappoints Investors on Earnings Calls
  • 1,110 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,111 days China Is Quietly Trying To Distance Itself From Russia
  • 1,112 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,116 days Crypto Investors Won Big In 2021
  • 1,116 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,117 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,119 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,120 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,123 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,124 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,124 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,126 days Are NFTs About To Take Over Gaming?
Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

Billionaires Are Pushing Art To New Limits

Billionaires Are Pushing Art To New Limits

Welcome to Art Basel: The…

  1. Home
  2. Markets
  3. Other

BKX Close to First Resistance

As you know, the economy and a strong Banking system go together.

Today, we posted the updated Banking Index chart of the $BKX.

When you look at the chart, look at the pricing bars and note how the daily price bars made a lower/high in November-December of 2015 and then a lower/low in January-February of this year.

And then, this June and July, the Banking Index made a higher/high (relative to its May 25th. 2016 high) and has risen above its down trending channel which is a positive.

In order to have a nice new up trend, the Banking Index has three important levels to move past: They are approximately at 71.53, and then 77.14 and 80.87. 

Yesterday the Banking Index closed at 71.30 so it was about three tenths of one percent away from is first resistance point.

BKX Daily Chart

 

Back to homepage

Leave a comment

Leave a comment