RY, DB and GS

These three financial institutions do not have that much in common but they tend to go in the same direction much of the time;

RY sept 2011

The Royal is down roughly 25% and,if the count is correct, not yet at an initial low. As indicated in a previous blog $43 is about the mean level over the past ten or so years (see previous blog), and it seems to want to go there. The DB and are following similar counts;

DB sept 2011 gs sept 2011

There are a number of variations and with the RY and DB it is not entirely clear when the down-trend actually started but what they do have in common is that none of them are complete!