I'll keep watching this index next week as it's health will continue to dictate the health of the broader markets for the near term.
S&P 500 Bank Index, Daily Chart:
Friday, February 27, 2009
Bank Index in Focus
Well, the S&P Bank Index was able to tie that "4 day consecutive day move up" record that I posted on Wednesday, but it had moved into double-whammy resistance of a downtrending 20MA on the daily chart and some horizontal resistance at 75. The price was rejected today and finished with red bar.
I'll keep watching this index next week as it's health will continue to dictate the health of the broader markets for the near term.
S&P 500 Bank Index, Daily Chart:
I'll keep watching this index next week as it's health will continue to dictate the health of the broader markets for the near term.
S&P 500 Bank Index, Daily Chart:
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