News--Energy--Market Opinions:
OIL:
seekingalpha.com
U.S.News:
seekingalpha.com
Energy:
seekingalpha.com
Alt. Energy:
seekingalpha.com
Stupid Headline of the week ...
At 7 AM yesterday, there there was a rumor that Goldman Sachs was going to downgrade the entire Financial sector.
Around Noon time yesterday, Goldman issued this update: "Goldman Sachs & Co strategists urged stock investors on Monday to "underweight" U.S. financial and consumer shares, admitting it was wrong when it upgraded both sectors just seven weeks ago."
Did that mean the misstated 7 week "underweight" analysis is now right, just starting, of just finishing?
Let's look at the Banking Index to see where it is now.
The Banking Index has been in a capitulation sell off. (Symbol: $BKX)
Yesterday, the index closed at the 60.87 (2002) support.
There is still one 2002 support remaining at 60.36 as seen on today's chart. That is now a mere 0.51 points away for today.
Does it stop here? See today's update for the answer and where it could go if the last 2002 support does not hold.
Please click this link for today's update and chart(s):
stocktiming.com
(If you are having trouble with the link, copy and paste it in your browser.)
Regards,
Marty Chenard
StockTiming.com
80 Botany Drive
Asheville, NC 28805
Tel: 828-296-1200
(Note: This is your Reference link for www.StockTiming.net where you can get up to date daily stock market news with direct links to Bloomberg, Marketwatch, Motley Fool, the Wall Street Journal ... the AMEX, CBOE, CBOT, CME, NASD, NASDAQ, NYSE, and the Russell 2000 exchanges.) |
