A bullish development?

An interesting chart (click on the chart to enlarge it).

An important resistance level of the bank index has been broken on the upside. Furthermore, the trend is strongly up since last November.

Banks are an important sector of the market. Their strength may bode well for the economy, for earnings, and for the overall tape.

If market continues to rise will continue to confound all the sceptics your see on TV.

George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
Ranked Top Market Timer in 2009 and 2010 by Timer Digest

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