Banks have held up ok in this decline - so far. Previous post
Mar-09 market downturns on US economic woes have seen the banks
lead the decline, usually getting hammered compared to other
sectors.
--
The Mar-Jun decline retraced ~.50 of the rally starting
Oct-11 (.618 retrace of the rally starting Nov-11).
A .50 retrace of the rally starting Jun-12 will meet
trendline support at ~46.5. Previous rallies off support have been
fairly strong.
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US Banking Sector - BKX Daily Chart
Posted by rixx on 13th of Nov 2012 at 08:57 am
Banks have held up ok in this decline - so far. Previous post Mar-09 market downturns on US economic woes have seen the banks lead the decline, usually getting hammered compared to other sectors.
--
The Mar-Jun decline retraced ~.50 of the rally starting Oct-11 (.618 retrace of the rally starting Nov-11).
A .50 retrace of the rally starting Jun-12 will meet trendline support at ~46.5. Previous rallies off support have been fairly strong.