Banking Indices: Fail / Heading Lower.

New York London GMT Tokyo Singapore

Banking Indices: Fail / Heading Lower.

By David Spurr on June 19, 2009 | More Posts By David Spurr | Author's Website

Regional Banking Index - rally off March Lows - broke down channel, but now seem to be running low on “juice” to continue the rally; The weakening commercial r/e market and the stagnation in the economy is having an impact. I spoke with a regional banker this weekend and he suggested to me that banks are still not willing to take the risks to finance new commercial deals. They feel as though there is still more room to move with regard to valuations - very tentative.

Bank Index broke out of the channel, seems ready to rollover, and break down, but there is some divergence in the momentum indicator, suggesting that it might go higher, possibly retesting the trendline, prior to plunging lower.

Mortgage Finance …..ditto

Check Out These Related Posts:

If you like this article please...

Subscribe by RSS Subscribe by Email

Email This Post To A Friend

Recent News:

*Moody’s Changes China’s Ratings Outlook To Positive From Stable - 16 mins ago
Fonterra Raises 2009/10 Payout Forecast - 37 mins ago
*S. Korean Oct. Producer Prices Down 3.1% On Year Vs. 2.6% Fall In Sep. - 52 mins ago
*S. Korean Oct. Producer Prices Fall 0.8% On Month - 54 mins ago
India’s Economy Set To Grow Above 7% In 2011: PM - 1 hr ago

Opinions From Our Contributors

Commodities US Dollar Tops, While Precious Metal Stocks Bottom: There’s More To Seasonality Than Summer Doldrums ‘Worst Is Behind Us,’ UH Economist Says Non Farm Payrolls To Bring The Bears Out Eight Months Into The Rally, What’s Next For The US Stock Market And Gold? Update: Gold’s Expanding Arc In Daily Chart Back To Bubble Land Fuel Your Stock Portfolio With BHP Billiton: The Best-Run Commodities Company In The World Will Gold’s Historic Bull Run Spill Over Into Silver? Gold, Silver, Oil And Natural Gas Have Gone Wild! Why Now Is The Time To Buy All Things Silver! Read More »	Financials The Mob Rules - At Least So Long As Long As Goldman And The Fed Can Continue To Drive The US Dollar Into The Ocean Stock Picks For Monday: Citigroup, JDS Uniphase And General Electric Are Discount Broker Shares Worth Owning? Investment News Briefs: UBS Fined $13.3 Million; Exxon And Shell Sign Iraq Oil Contract; Shares Of Ancestry.com Soar On IPO Retaining Risk On Wall Street: Necessary But Painful A Still-Safe 18% Dividend In “Virtual Banks” Goldman Sachs ‘Shooting Fish In A Barrel’ Warren Buffett Goes “All In” On America… How To Play The Oracle’s Big Bet IASB At Odds With FASB On ‘Extend And Pretend’ Option Traders Suggest Further Retail Sector Weakness Read More »	Exchange Traded Funds Rydex Market Timer Funds: Extremely Mixed ETFs To Cover What Warren Buffett Is Buying 10 Reasons ETF Tracking Error Occurs Law Firm Files Class Action Lawsuit On Behalf Of Investors In ProShares Ultra Oil & Gas Fund (DIG) 6 Reasons To Watch China’s ETFs Five Tips For Trading ETFs The Carry Trade: What Is It And How To Play It? Midday Market Update: Jobs Report Cheers Wall Street Gold ETF: With Each Push Higher, Volume Has Been Declining Gold To Continue Its Record Run As Central Banks Stock Up Read More »
Stocks Combining Bollinger Bands On Rates Of Change In The VIX Is Another Bubble Building In Stocks, Commodities And Currencies? Month To Date Market Review S&P 500: Market Is Strong, But Correction Should Continue Doctor Up Your Portfolio With This Medical Communications Company Dendreon Corp.: Put This Promising Biotech Stock On Your Watch List Has Asia Dethroned Detroit As The Auto Sector Leader? Three Marketing Giants Adjust To The New “Post-Crash” Reality Market’s Reaction To The US Unemployment Report: Neither A Buyer Nor Seller Be Stock Market Movers: Nvidia, Blue Coat Systems, The Clorox Company Read More »	Forex Dollars And Books Revisited Weak U.S. Economy May Not Mean Weak Dollar This Time Australian Dollar: The Downside Prevails Canadian Dollar: Caution USD/JPY Moves Below The 89.82 Level As Stocks Move Back And Forth Swiss Franc: The Downside Prevails Japanese Yen: Under Pressure British Pound: The Downside Prevails Euro: Under Pressure Friday’s Forex Outlook Read More »	Economy Stimulus Is Only Stimulating “Economic Misery” The Problems With “Printing Your Way Out Of Debt” US Unemployment Rate Up Unexpectedly At 10.2%: Is The Economic Rebound A “Jobless Recovery”? US Commercial Property Sector: A Tsunami Of Red Ink Interesting Articles To Read US Unemployment Rate Troubling, But … Cartoon: It’s Still The Economy, Stupid Extension Of US Unemployment Benefits: Will That Really Benefit The Overall Economy? The Economic Implications Of Being Out Of Work For Six Months Or More Fed Signals “All Systems Go” For More Inflation Read More »