Are Bank Stocks Sending an SOS Signal?
April 2, 2014 9:29 amVideo
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If you turn on CNBC first thing in the morning, you hear a lot about market indicators. Consumer behavior, GDP numbers, the Fed, interviews with CEOs — it’s all in the mix.
Instead, Steve Hochberg of Elliott Wave International looks
at important indicators that mainstream finance
often overlooks.
For example, consider this insight from the latest, March
issue of Steve’s Financial Forecast.
This chart shows you that banks have dramatically underperformed
the broad market since the Great Credit Crisis began. The
top line is the KBW Bank Index. The bottom line is the ratio
between the Bank Index and the S&P 500. Notice how the decline
in the ratio came before the February 2007
reversal in the Bank Index. And the Bank Index reversal itself
anticipated the October 2007 reversal in the broad stock market.
Most importantly, this chart shows you that
The bottom line is: Relative to the S&P, bank stocks made a high four years ago. So the question is, are the financials once again a leading signal of an impending credit contraction?
Discover the answer for yourself in Elliott Wave International’s new special report, “The Financial Forecast “Nuggets” Report.” You can get it — FREE — right now. See below for full details.
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