Banks Face Further Tough Obstacles
Banks have shown great resilience since October, rising off two-year lows in a steady recovery that reflects growing strength in the U.S. economy. But the group has now lifted into major resistance levels that will require even greater positive catalysts to break out to higher ground. I recommend protecting profits and avoiding new exposure until that happens.
BKX Monthly eSignal View Chart » View in New Window »Note how the 20-month simple moving average on the KBW Banking Index (BKX) chart has acted as a major price pivot four times since the 2009 low: ...573 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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