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Tuesday, August 04, 2015 9:46:34 AM
Weekly Chart of the Banking Index ($BKX)
By StockTiming
* August 4, 2015
Watch the Banking Index ($BKX) ...
The Banking Index is a key to the market and the economy.
Central Bankers are reported as being scared now, so caution is a very good thing to exercise at this point.
Below is a weekly chart of the Banking Index. Just before the 83.43 resistance level (see the horizontal red line) from September 2008, we will hit a 61.8% Fibonacci retracement. A good question to ask yourself is: Do we have the necessary growth to pay off the loans that are already in existence?
http://stocktiming.com/Tuesday-DailyMarketUpdate.htm
- George.
Click on "In reply to", for Authors past commentaries.
By StockTiming
* August 4, 2015
Watch the Banking Index ($BKX) ...
The Banking Index is a key to the market and the economy.
Central Bankers are reported as being scared now, so caution is a very good thing to exercise at this point.
Below is a weekly chart of the Banking Index. Just before the 83.43 resistance level (see the horizontal red line) from September 2008, we will hit a 61.8% Fibonacci retracement. A good question to ask yourself is: Do we have the necessary growth to pay off the loans that are already in existence?
http://stocktiming.com/Tuesday-DailyMarketUpdate.htm
- George.
Click on "In reply to", for Authors past commentaries.
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
gtsourdinis
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