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
Source: Technimentals
The BKX Index tested its previously broken trend line on
Friday
would turn the short-term trend back down as well.
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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."
–Larry Bird
Barry,
Just take a look at the RKH (Regional Bank Holders), if you think its seen a pullback, wait till later this year, its really going to get beat like drum.
Mr. Naybob
a house is not a home
Chart of the Week: Ph…