XJO 1.75% 8,092.3 s&p/asx 200

thursday thrashing, page-78

  1. 4,361 Posts.
    http://www.stocktiming.com/Wednesday-DailyMarketUpdate.htm

    Wednesday, July 25th. - Stock Trends, Charts, and Commentary
    _____________________________________________________________

    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.



 
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