Continuing this weeks theme of fractal analysis, here's a much broader chart of the BKX:SPX going back some 14 years. It looks just like this years chart doesn't it? You could even boldly theorize that the market may have made a much more significant bottom than we first believed. I still need to go over this in more detail - but it is fascinating nonetheless. It basically boils down to this - The financial institutions and banking industry is the lifeblood and circulatory system of progress. If they are about to be rebooted, re-capitalized and leaders again - the overall market may just follow suit.
Perhaps that's just silliness, but this chart sure makes you think.
Fractals - it's in all of us.
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