|The initial priority for resolution of the current crisis is the solvency of the banking system. Without a functioning banking system, everything else (i.e. the economy, real estate) falls apart. To that end, today's chart focuses on the all-important banking sector by providing the current trend of the KBW Bank Index. As today's chart illustrates, banking stocks were trading within the confines of an upward sloping trend channel from mid-2005 into early 2007. Then the impact of an already weakening real estate market began to take its toll. Banking stocks began to decline and as the real estate bubble/overleveraging unraveled, banking stocks began to decline at an ever increasing rate. Fast forwarding to the present, as a result of a very sharp four-day rally, banking stocks today broke through resistance (red line) of the latest (and steepest) down leg providing a glimmer (albeit faint) of hope.Notes:
- Where's the market headed? The answer may surprise you. Find out right now with the exclusive & Barron's recommended charts of Chart of the Day Plus.
Rate today's Chart of the Day
By voting every day you help us get you the charts you want to see.
Quote of the Day"True individual freedom cannot exist without economic security and independence. People who are hungry and out of a job are the stuff of which dictatorships are made." - Franklin D. Roosevelt
Events of the DayMarch 17, 2009 - St. Patrick's Day
March 19, 2009 - NCAA men's basketball championship
March 20, 2009 - First day of Spring (Northern Hemisphere)
March 21, 2009 - NCAA women's basketball championship
Stocks of the Day-- Find out which stocks investors are focused on with the most active stocks today.
-- Which stocks are making big money? Find out with the biggest stock gainers today.
-- What are the largest companies? Find out with the largest companies by market cap.
-- Which stocks are the biggest dividend payers? Find out with the highest dividend paying stocks.
-- You can also quickly review the performance, dividend yield and market capitalization for each of the Dow Jones Industrial Average Companies as well as for each of the S&P 500 Companies.
Mailing List InfoChart of the Day is FREE to anyone who subscribes.
To ensure email delivery of Chart of the Day, add email@example.com to your whitelist.
Journalists and bloggers may post the above free Chart of the Day on their website as long as the chart is unedited and full credit is given with a live, do follow, text link to the Chart of the Day homepage using the following HTML...
If your site provides a list of helpful links, we would appreciate it if you added a link for Chart of the Day at http://www.chartoftheday.com. However, Chart of the Day Plus charts are to be viewed by paying Chart of the Day Plus subscribers only and may not be republished.
Chart of the Day is provided to subscribers without warranty of any kind and accepts no responsibility for its accuracy or for any consequences of its use.