The bank index has a gartley patten right now, and has been holding up quite well. The momentum has shifted to a more bullish stance and is still up near new highs.
December the smart money will slow down alot which means the volume will be lower than normal, and dry up alot. This will obvious affect the price in the short term however this chart below is quite perky still, even if there is irrational bearishness amongst analysts right now.
Even back in January we warned this year could be a good year for the bulls, and if you look back to 11 or so months, you can see just how good of a run the banking index and banking stocks have had!
WHAT IF YOU KNEW WHICH WAY THE MARKET WAS ABOUT TO MOVE BEFORE IT HAPPENED? CLICK HERE To Join Our VIP ELITE GROUP -- FREE!
Powered by 123ContactForm | Report abuse
No comments:
Post a Comment