Monthly momentum (blue circle) is turning down for the first
time on the Bank Index since 2001.
Philadelphia KBW Banks Index (BKX)
click for larger chart
The BKX Index tested its previously broken trend line on
Friday and held those lows. Any break below Friday’s low (97.59)
would turn the short-term trend back down as well.
Quote of the Day:
"A winner is someone who recognizes
his God-given talents, works his tail off to develop them into skills, and uses
these skills to accomplish his goals."