Wednesday, May 7, 2014

Heavy Banks

Only shadows ahead
Barely clearing the roof
--Crowded House

The banks continue to trade heavy. The BKX is toying with its 200 day moving average, something that it hasn't done since the Thanksgiving 2012 lows. Multi-year uptrend line lies a couple of points below.

Stiff head wind for the broader tape...

position in SPX

1 comment:

dgeorge12358 said...

The bank hath benefit of interest on all moneys which it creates out of nothing.
~William Paterson, founder of the Bank of England, 1694