Friday, April 16, 2010

Update Friday April 23;  Market continues higher, signal appears to have only produced a very short term pull-back, still divergence happening in the vix, a more serious pull-back should be coming.

 5 days ago I wrote on the post below that I thought the banking index looked like it was going to peak this week, today the SEC charged Goldman Sachs with Fraud and the banking index and stock market in general is crashing now after a double top on the minute charts yesterday and a gap down today. News comes to satisfy technicals.

Sunday, April 11, 2010

The Philadelphia Banking Index has trend which is likely showing a top for the banking index the week of April 12, 2010.