Just did an update for Andy and the people over @seeitmarket on this post: http://www.seeitmarket.com/bank-stocks-near-make-break-point-2015-13986/ It was the first week of January 2015. Yep, over a year ago …
So, it appears the press still isn’t paying attention to them … $DB is getting smoked and looks like LEH before it went off the cliff.
check out this chart of $FAZ. It’s an inverse of the banking index and leveraged, big time. Also note in 2008 the price was 160,000.
so we have something very interesting occurring. we need to let the market come to us and show us what it wants to do … see the RSI? IF the banks are in trouble THEN the market will shift and attack the higher bullish rsi resistance zone around 80-90. If they are “ok” – for now – then we should find stiff resistance and the trend resumes. so, watch this closely because IF we go up and tag the upper zone, then we are in a “bull market” and the banks are going to get smoked …
stay tuned …
