thursday thrashing, page-78

http://www.stocktiming.com/Wednesday-DailyMarketUpdate.htm

Wednesday, July 25th. - Stock Trends, Charts, and Commentary
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It was exactly one week ago when we discussed the Banking Index and how it was at a critical
support level.

We also discussed how the banking index's action had an important relationship to the S&P 500
because the Financial sector represents 20.77% of the S&P 500.

Well ... yesterday's Banking Index chart is below and the Index clearly broke a 4 1/2 year support
level.

This spells real trouble ahead for the Financial sector with repercussions extending to the other
indexes. After all the talk about sub-prime problems and not much happening, this is the
first real indication that we are going to see a much deeper problem come to light in the
coming weeks.