Here is the daily BKX stringing several up days together, but starting to get over bought. I have held the Regional Bank fund KRE (per NFTRH+ notes in the weekly…
It is too early to call it a confirmed breakout, but the Bank index has popped above cyclical bull market highs. Weekly MACD and RSI both look good. The monthly…
Here is the Bank index, still holding support. While it looks like it could be making an extended top, the BKX is still above the first support level. Pigs and…
The Banks (BKX) have been leading the broad US stock market (SPX) down into this bumpy ride as T bond yields tank ever further. While the intermediate picture features varying…
Along with the highly publicized loss of leadership from big tech, the US stock market is now in danger of losing another, and possibly more important leader, the piggies or banking sector.
While the weekly chart of BKX has not yet broken down, it is very close to doing so after sporting a negative RSI divergence for the better part of the last year. We should not jump the gun with bearish scenarios, but as always we want to be among those looking forward and ready, just like in 2007, which was the last time BKX-SPX began to roll over in earnest.