This Tired Sector Can Use a Break

[Jeff Clark's Market Minute]( This Tired Sector Can Use a Break By Jeff Clark, editor, Market Minute It’s time for the banks to take a breather. Bank stocks have been on fire lately. The KBW Bank Index (BKX) is up nearly 24% in just over one month. This formerly lagging sector has played one heck of a game of “catch-up” with the rest of the stock market. And, it’s likely headed even higher over the next several months. Recommended Link [Could 5 Minutes = $1,000’s?]( [ad_img]( You’ve heard it all before... Go to school. Get a decent job. Work hard for years. Buy and hold stocks. That’s the HARD way to get rich. But this 5-Minute Secret can help you make an extra $1,400... $5,420... $7,470... in a matter of weeks. And you can do it from the comfort of your own home in as little as 5 minutes a week… [Show me the EASY way!]( - But, for the next several days, bank stocks can use a rest. Here’s an updated look at the chart I showed you [last month]( The index has rallied all the way back up to its March high near $95. This is a natural [resistance]( area. And, it’s a reasonable spot at which to expect a pause in the bank stock rally. Free Trading Resources Have you checked out Jeff's free trading resources on his website? It contains a selection of special reports, training videos, and a full trading glossary to help kickstart your trading career – at zero cost to you. Just [click here]( to check it out. Notice how all of the various moving averages (the squiggly lines on the chart) are now quite extended away from each other. One month ago, they were tightly coiled together. There was lots of pent-up energy to fuel a strong rally. But, that energy has been spent. A pause in the bank stock rally will give the moving averages a chance to come together again and build up energy for another push higher. [The 3 Best Pandemic Stocks]( Ultimately, I expect BKX will rally back up towards the February high near $110. So, there’s plenty of room for the sector to run. But first, this index is likely to chop back and forth for a while between [support]( at $90 and resistance at $95. That sort of consolidation, after such a strong rally, is a good thing. It’ll give the bank sector a chance to catch its breath before making an even stronger move higher. Best regards and good trading, Jeff Clark Reader Mailbag Do you agree with Jeff’s analysis that banks just need a quick break in order to move higher? Or, do you think it’s best to avoid banks for a while? Let us know your thoughts – and any questions you may have – at feedback@jeffclarktrader.com. In Case You Missed It… [He’s Done It – This Is Bigger Than 5G]( 5G. AI. Self-driving cars. Everywhere, you’ve heard at least one of these called “the biggest tech market investing story of the next five years.” Not so fast, says the man who’s been called “America’s top technology prophet” and an “American genius” by international media. Something else is coming on the tech horizon. Something potentially bigger than all those breakthroughs. With a potential $16.8 trillion impact worldwide. [Follow this link for full details.]( [image]( Get Instant Access Click to read these free reports and automatically sign up for daily research. [image]( [The Gold Investor’s Guide]( [image]( [The Ultimate Guide to Taking Back Your Privacy]( [image]( [Free Report: America’s #1 Portfolio Protection Plan]( [Jeff Clark's Market Minute]( Jeff Clark Trader 55 NE 5th Avenue, Delray Beach, FL 33483 [www.jeffclarktrader.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. Jeff Clark Trader welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. To contact Customer Service, call toll free Domestic/International: 1-800-752-0820, Mon–Fri, 9am–7pm ET, or email us [here](mailto:contactus@jeffclarktrader.com). © 2020 Omnia Research, LLC. All rights reserved. Any reproduction, copying, or redistribution of our content, in whole or in part, is prohibited without written permission from Omnia Research, LLC. [Privacy Policy]( | [Terms of Use](