Indicators We Are Watching – Bank Index Flashes Gravestone Doji

March 29, 2010 9:02 am

There has been a change in sentiment that appeared last week and that shows up well in charts. The S&P Banking Index turned from a breakout late in the week and provides a bearish signal (Gravestone Doji). In addition, the S&P 500’s reversal has an inverted hammer candle with a lower follow-through…

Scroll to bottom or click HERE for Bank Index Chart.

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Several other indicators are also providing a break in the bullish sentiment and should be observed going into the “lull” before the next earnings season kicks off in a few weeks.

(Click on each chart to enlarge)

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