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The bank index is piercing on the downside an important rising trendline.
The importance of this trendline is that the bank index has been above it since March. I always believed that as the duration of the trendline grows, the violation becomes more important.
Bad news for the market? Time will tell. Stay tuned.
To find out more about my in depth view of the markets and my strategy just visit our website https://www.peterdag.com/ where you can review The Peter Dag Portfolio. You can also call me at 1-800-833-2782 to discuss your specific money management needs.
I will be happy to speak to your investment group on how the business cycle impacts investment strategies and the choice of asset classes.
George Dagnino, PhD
Editor, since 1977
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