|For some perspective into the all-important banking sector, today's chart presents the current trend of the KBW Bank Index. As today's chart illustrates, banking stocks peaked back in early 2007. The impact of an already weakening real estate market began to take its toll and banking stocks began to trend lower at an ever-increasing rate. This weak banking sector performance ultimately preceded the recent financial crisis. Following a post-financial crisis rally into early 2010, banking stocks have traded in a fairly flat/choppy manner (though with a slight downward bias -- see red resistance line). Since late 2011, however, the trend has been up (see green line). With banking stocks having recently pulled back from resistance and currently testing support, this all-important sector is fast approaching a critical decision point.Notes:
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Quote of the Day"A bank is a place where they lend you an umbrella in fair weather and ask for it back when it begins to rain." - Robert Frost
Events of the DayDecember 08, 2012 - Hanukkah (1st day)
December 10, 2012 - Nobel Prizes awarded (announced in October)
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