Sunday, December 02, 2007

$BKX Analysis for 12.02.2007

Monthly chart shows uptrend line has been broken. November closed above the prior s/r and key LIS. No confirmed buy signal in place as of yet.

Weekly chart shows buying activity the past week. price remains below the 8ema thus far.

Daily chart shows buying the past week. Resistance is directly above. Index remains well below the 200sma for now. Jim Cramer called a bottom on financials on Friday. While it sure looks like the financials are oversold, and due for a bounce, there is no evidence yet that the trend has changed from down to up.

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