Is the Banking Index in Trouble?

By: Marty Chenard | Wed, Feb 12, 2014
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This morning, we will post an update on the Banking Index. The market is looking more positive again, but it may well be only the amount of Inflowing Liquidity that is giving it wings. We shall see in the next few days.

So, let's get back to the Banking Index chart. The Relative Strength was slightly positive, the Inflowing Liquidity was neutral, and the Timing Indicator was negative and showing less acceleration to the downside. The net was a mixed condition yesterday, in spite of the general market's up movement in the past few days. This opens up a future formation possibility of a Head & Shoulders pattern in the coming days.

Banking Index ($BKX) Day Chart

 


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Marty Chenard

Author: Marty Chenard

Marty Chenard
StockTiming.com
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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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