banking index video...is there something we dont know?

[#1]

http://www.screencast.com/t/EvTQ5MvU2

[_nova]

thanks for this Chartist. Very insightful. I absolutely agree on the pattern forming. I also agree that we cannot yet even guess if there are 'skeletons' in the closet. Did you see my post yesterday to SBK re possible exposure to CDS? I took an outside chance on a long on financials today since they've been hammered so hard. In a relief rally they climb and I'm pretty nicely up but watching it oh so carefully.

[DST]

Not much windrush from your opentop car round the peninsula, or did you take a hardtopper?

[#4]

Chartist you are right. My charting comes to the same conclusion. Any upside should be used as selling opputunity

[#5]

I have a very fast car....

[#6]

Very interesting again. Many thanks. Always find your talks and charts fascinating. Please keep it up.

[#7]

Thanks Chartist. Funnily enough I did a chart at the end of September for Standard Bank and I noticed this same Head and Shoulder pattern emerging, which could mean nothing, but showing up in many instruments at this point in time, especially the Banking Index. Weekly Chart for the last 5 years. http://img134.imageshack.us/my.php?image=standardbankbearchannelgg0.jpg Daily Chart for the last 5 years. http://img171.imageshack.us/my.php?image=standardbankbearchannelhv1.jpg

[#8]

Of course what would change things is if the Dividend Yield drops, then that line drawn at the 6000 could become a reality? Let's hope not. Cheers, BTTB.

[#9]

I saw on Summit that Roffey had the same view as you this week on the banking index Chartist :-)

[JDT]

He must have watched Chartist's screencast... :)

[john_1]

Hey Brazen...its a cold day in hell both roffy and Chartist agree on the TA...OOPS!

[#12]

oh *****...I will have to relook that whole analysis...there must be something I missed...