For this first time in his tenure as JPMorgan Chase president, Jamie Dimon sold some shares on Friday.
Does he know something that we should know? Are bank stocks in trouble??
Well, it’s time to look at the banks… below is a “weekly” chart of the Bank Index (BKX).
As you can see, BKX is testing important dual support at (1). This support is comprised of the recent lows and uptrend channel support.
Looks like this support is mission critical for JPMorgan Chase stock and all banks alike. In my humble opinion, stock market bulls need to keep an eye on this. Stay tuned!
$BKX Bank Index “weekly” Chart
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