Charting the Bank Index (BKX)

Doing some emerging or frontier market investing drives home the fact that it is very difficult to have a bull market without the banks participating if not leading.* In developed markets (except Germany - banks very important to German equities) the importance is less obvious, more of a background reality but still there.

From Kimble Charting Solutions, June 12:

Bank Index Could Be Creating Large Bearish Pattern, Says Joe Friday

Are Banks going to end the month with a large bearish pattern just below dual resistance? Possible, yet the month is far from over!...
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*A couple related posts: 
"Frontier Markets: Kyrgyzstan Stock Exchange"
Dimensional Fund Advisors Shows How to Bet on Emerging Markets When You're Honest And Admit You Don't Really Know What's Going to Happen
This looks very, very smart.
The approach seems to solve one of the major portfolio construction problems in Emerging/Frontier investing: if you try to control risk by buying market cap you end up owning all the banks and not much else....