Sometimes, people forget the link between banks and the economy. Many potential borrowers are complaining about “the hundred hoops” banks are making them jump through in applying for a loan … only to be turned down in the end. I’ve heard enough stories to thing that banks are being tight fisted and holding back due [...]
This index will have a large move soon …
August 1, 2012 by
How will this test end? The Banking index is now at an important testing level on its weekly chart as seen below. A four and a half year fan line resistance level is now the focus for the ($BKX) Banking Index. Based on the convergence of its support and resistance line, the breakout is not [...]
Trouble in China, and Trouble for U.S. Banks?
November 30, 2011 by
Trouble in China, and Trouble for U.S. Banks? Our country’s top Banks and Financial institutions were downgraded yesterday. Stocks included in the downgrade were: BAC, JPM, WFC, C, MS, and GS. But at 7:16 AM this morning, the futures were indicating that ALL of them were showing a pre-market rise in their values. Does this [...]
An important S&P 500 Sector situation …
November 7, 2011 by
Below is a weekly chart of the Banking Index. Take a good look at the lines labeled 1 and 2. What do you see? Looking at the chart, you should see that the SPY has been trending up since April 2010, while the Banking Index (symbol: $BKX) has been trending down since April 2010. What’s wrong with that picture? What’s [...]
A new Danger courtesy of the Government?
September 2, 2011 by
A new Danger courtesy of the Government? For months, we had pointed out the very large, two year negative divergence that the Financials had relative to the S&P 500. As discussed, the importance of this was that the Financial Sector represented 14% of the S&P’s component structure. And yet, the S&P went up for two years while [...]
KEEP the Banking Index ($BKX) on your Radar Screen!
August 16, 2011 by
What should be on your Radar Screen next? Yesterday, we mentioned that today’s update would be about: “What you should have on your Radar Screen now“. So, what should be on your Radar Screen now? For those who might have gotten caught off guard with the correction we just saw, there is still more to [...]
Good Rally, Bad Rally???
June 17, 2011 by
Good Rally, Bad Rally??? When you look at the S&P 500′s ETF (the SPY), you realize what a nice rally we have seen since the end of April of 2010. The SPY was up +4.49%. However, when you look at the S&P 500′s second largest sector, you realize what a horrible drop the Banking Index [...]
The market will see more trouble in the days ahead.
June 15, 2011 by
The Good, the Bad, and the Ugly … Below are the 3 charts we analyzed last week … We had three charts, and three conditions … The Good, the Bad, and the Ugly which described WHAT was happening in the market. Please read last week’s recap below before going to the bottom for today’s current [...]
Good, Bad, and Ugly which describe WHAT is happening in the market today.
June 6, 2011 by
The Good, the Bad, and the Ugly … That’s what we will look at this morning … Three charts, Three conditions … Good, Bad, and Ugly which describe WHAT is happening in the market today. The Good: For the first chart, we will visit the S&P 500 back to February 2010. The focus today should [...]
