Chart of the Week: Philadelphia KBW Banks Index (BKX)

Monday, March 21, 2005 | 12:56 PM

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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Monday, March 21, 2005 | 12:56 PM | Permalink | Comments (1) | TrackBack (1)
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Tracked on Jun 27, 2005 7:54:32 PM

Comments

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

Posted by: The Nattering Naybob | Mar 23, 2005 1:51:38 AM

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