Friday, August 26th. - Stock Trends, Charts, and Commentary (*** If you see last week's Update: Click Here)
Can the economy still function normally with the Banks in trouble? That is a good reason to follow the banks, because if they get into trouble, the economy won't be far behind.
The Banking Index chart is posted below. It closed at 70.48 with our C-RSI at a good positive level of +7.57 yesterday.
At the same time, the Banking Index was only slightly above its support line, so this is a Test day. The Accelerator was positive with an up tick while the Timing Indicator was in positive territory and showing merged trend lines.
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