Wednesday, July 16, 2008

Bank Index: Impressive, But...

Okay, so the S&P Bank Index had a 22.77% rally today.

But lets look at the chart and see what that really means. Okay, we just got back the last 3 days of ugly selling, but that's it.

The next few days will be important to see if it can hold above this level as any crack below 145 could start unraveling this thing again.

S&P Banking Index ($BIX) Daily Chart:

No comments: