AMEX:KBE SPDR S&P Bank ETF
The KBE , which tracks an equal-weighted index of U.S. banking stocks, has been rising on a very steady 1M Channel Up since the 2008 financial crisis and has recently rebounded on the latest Higher Low ( = 50.776, = 0.640, Highs/Lows = 0.0000). This presents a good buy opportunity on banking stocks, which are expected to outperform the market in the coming years. Our long term target is 52.00 with 60.45 in extension.
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