More evidence that U.S. stocks could soon begin a significant drop lower comes from the Regional Bank - ETF (KRE).
KRE made a new bear market low on 05/04/23 and has recently rallied to just below a Fibonacci .236 retracement of its 2022 to 2023 bear move.
Daily RSI and MACD have bear crosses.
KRE has a very good chance of dropping back to the 05/04/23 bear market low at 34.52.
If that low does not hold it could decline back to its March 2020 bottom at 27.26.
Stock bulls beware, the S&P 500 post October 2022 rally could soon be coming to an end!
KRE made a new bear market low on 05/04/23 and has recently rallied to just below a Fibonacci .236 retracement of its 2022 to 2023 bear move.
Daily RSI and MACD have bear crosses.
KRE has a very good chance of dropping back to the 05/04/23 bear market low at 34.52.
If that low does not hold it could decline back to its March 2020 bottom at 27.26.
Stock bulls beware, the S&P 500 post October 2022 rally could soon be coming to an end!
