A Trifecta of Big Banks

05/06/2014 7:00 am EST


Chris Kimble of Kimble Charting Solutions notes that these big banks have all broken two-year support, which could be a predictor of future weakness in the broader market.

So goes the banks, so goes the broad market? Well...this is not a perfect analogy, yet more often than not, what banks do (strong or weak) does seem to have an important impact on the broad markets.

Click to Enlarge

The above three-pack reflects that Bank of America (BAC), JP Morgan (JPM), and Goldman Sachs (GS) have all broken below two-year rising support lines, while the broad markets have not. The power of the pattern would suggest one should keep a close eye on these key financial stocks to see if any further weakness takes place and if it starts to impact the S&P 500.

By Chris Kimble, Founder, Kimble Charting Solutions

  By clicking submit, you agree to our privacy policy & terms of service.

Related Articles on STOCKS

Keyword Image
Crude March Madness
03/22/2019 10:48 am EST

Energy markets are experiencing their own March Madness, notes Phil Flynn, senior market analyst at ...

Keyword Image
ET: An MLP to Phone Home About
03/22/2019 5:00 am EST

A couple of weeks ago I had an extended exchange with a friend of mine who is an oil man in Oklahoma...