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

Philly_bank_index_305

Source: Technimentals 

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.

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Quote of the Day:

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Category: Markets

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

2 Responses to “Chart of the Week: Philadelphia KBW Banks Index (BKX)”

  1. 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

  2. Rico Maraldi says:

    a house is not a home

    Chart of the Week: Ph…