Bank Rally Near End

By: readtheticker | Sat, Apr 19, 2014
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Bank Rally getting tired

The bad boys of the 2008 financial crisis have come back strong over the last 5 years, it most cases bank stocks have recovered half of there loses. But like all energy, it does exhaust itself.

The stock market has had a great 5 year run from 2009 lows, many many charts are at upper channel lines and major resistance levels. Below is just another example.

Controlled distribution has been going on in the markets, however not so controlled in the tech stocks (FB,TSLA,AMZN,PCLN,NFLX). As always the market needs a catalyst to send it lower. In a market that has much to do with central banks, a negative catalyst would be rising interest rates that occurs due to market forces and not central bank wishes. A hint, keep an eye on Japanese bonds in the next month or two.

NASDAQ Bank Weekly Chart

And the SPDR XLF...

XLF Financials Select Sector Weekly Chart

NOTE: readtheticker.com does allow users to load objects and text on charts, however some annotations are by a free third party image tool named Paint.net

Investing Quote...

"TIME is the most important factor in determining market movements and by studying the past records of the averages or individual stocks you will be able to prove for yourself that history does repeat and that by knowing the past you can tell the future. There is a definite relation between TIME and PRICE. Now, by a study of the TIME PERIODS and TIME CYCLES you will learn why tops and bottoms are found at certain times and why Resistance Levels are so strong at certain times and bottoms and tops hold around them. The most money is made when fast moves and extreme fluctuations occur at the end of major cycles." ~ William D Gann

"The first rule is not to lose. The second rule is not to forget the first rule." ~ Warren Buffett

 


 

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Author: readtheticker

readtheticker
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