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Tuesday's Update

Tuesday, July 22nd. - Stock Trends, Charts, and Commentary
                                             (*** If you see last week's Tuesday Update: Click Here)

Will there be trouble on the Banking Index?? 

The Banking Index may be in trouble.  A quick look at today's chart show's why ...

Note what was showing up at yesterday's close:  The Banking Index has made a lower high so far at label 3 which could start a down trend. 

The danger here is that the pattern at labels 1, 2, and 3 could turn out to be a Head & Shoulders pattern which could generate a 16% down move from yesterday's close. 

When you look at the chart, notice that the 30 C-RSI was at +0.33 which was essentially neutral and the Timing Indicator was positive but down trending. 

This is a high risk profile that needs to show us some positive action real soon in order to avoid some serious trouble.

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