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Banks and Biotechs

  1. croupier

    5,447 Posts.

    The US bank index dived through the 200 day ma in July but has regained position above this rising indicator.Will it hold this upward move or get pushed down again?The biotech index returned almost to its 1999 levels and is now rising above the 20 day ma.Will it keep rising towards the falling 200 day ma.?If a bottom has been found then the bounce back up is likely to be very wobbly.The stronger stocks will have already made the move back to an upward trend,albeit a shallower angle.COH is turning slowly and will lead the way for others to follow.NAB is following the All ords,forming the rounding top,reflecting the woes of its customers.

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