Health of Banking Sector Important to Stock Market


Retirement Day Trader - eBook

Sign up for our Newsletter & get the FREE eBook
Retirement Day Trader:
How to Sell Weekly Options for Steady Income

  • This field is for validation purposes and should be left unchanged.

Although the bull market has grinding higher, it’s awaiting confirmation from the banks and banks stocks.

Today’s chart is of the S&P 500 Bank ETF (NYSEARCA:KBE) and shows how the banks are at an important juncture in time and price.

KBE (the bank ETF) is testing the upper end of a falling channel, offering bulls an opportunity for a breakout – see point (2).

The banks were at a similar juncture nearly 3 years ago at point (1), before breaking out and leading the bull market higher.

KBE would send a bullish message to the market if it breaks out at point (2). Stay tuned!

This post was first written for See It To see original post CLICK HERE