UPDATE April 27, 2013
I had anticipated that the bank index would break down to the purple oval and green arrow (HERE is earlier post). Didn't work out that way, and the continued strength in this bank index is somewhat confounding - the banks do not appear to be feeling the brunt of the ever increasing debt bomb - and there are those that think they won't. Current price action has resistance just below $60/shr ~ As always - watching and learning.
UPDATED (13-1-2013)
The strength above previous resistance suggests this index might be ready for a big move. One strategy could be to take a small position, then wait and see whether or not it tests the line for support from the opposite side. Watching and Learning.
I had an early expectation that by August 2012 the banks will have been crushed under the over-leverage and infinite interconnectedness ~ hasn't happened ~ the banks have continued on a fairly stable path though the compressed wedge boundaries are now a possible influence. Watching and Learning.
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