Thanks to @TORNADOF5 for reminding me about this.
A friend sent me a tweet last night about how banks are levered up on debt and that prompted me to look at the chart of KRE.
As you might remember, AMEX:KRE was one of the worst performing ETFs at the beginning of this year with the failure of a ton of local banks. But since earlier this year, I haven't...
Looking at KRE during the final hour of trade this morning on the US markets, KRE represents a potential bearish opportunity should momentum continue and lower highs and lower lows be made past the current position, considering breach of recent support levels aligning with technical indicators of RSI and DMI. Personal stop loss for the trade would be the high of...
Traders,
For the second time this year, regional banks are threatening to cross on over an essential support that has carried us through this secular bull market for 14 (going on 15) years! If our support breaks, I fear that regional banks could drag everything else down with it. Remember, it is regional banks that hold the loans for much of commercial real...
Old National Bancorp has developed a 3 Falling Peaks pattern after confirming a Partial Rise of the Ascending Broadening Wedge it's been trading within. It has also confirmed MACD Hidden Bearish Divergence.
Based on the price action we've recieved the expected bearish target would be between $5.73 and $1.91
While I believe that the markets are currently standing on the edge of a cliff and will not produce a new all time high, it's very important to note that price action is yet to confirm that, with the most significant catalyst of them all being Wednesday's FOMC.
Wednesday's FOMC is important because whether the Fed hikes again and how much they hike will determine...
One of the cleanest setups I have ever laid eyes on. Clear impulsive 5-wave move off the low with each wave tagging ideal fibonacci extensions. The pull back was also 3-waves and perfectly tagged the ideal .5 fibonacci retracement. The last confirmation we need is for price to break above the previous high of $8.11 to confirm that we are heading to double-digits....
As the S&P 500 and the NASDAQ rally into the green for the year, the Russell 2000 (aka the small cap index) has lagged behind and is barely green at +1.03% YTD for 2023. One of the reasons why this index hasn’t been doing well can be attributed to the index’s 15.18% allocation in the Finance Sector. Failing regional banks such as Silicon Valley Bank ( NASDAQ:SIVB...
First Republic bank has been slaughtered due to the banking crisis in the US. FRC is backed by JP Morgan, the strongest bank on earth. Unless the Gov't wants all regional banks to fail and roll it all up in to the big banks, FRC should survive and if it survives, it can easily double from here. Obviously the sentiment on this stock and bank stocks in general are...
BOH has been in a downtrend for 2 months since the very beginning of the small bank crisis all
precipitated by the fed and its rate hikes confounding the value of bonds with fixed yields.
As can be seen on the 4H chart, price was in consolidation in January and February but the
dropped out of the supply / resistance zone which is quite thick by the Luxalgo...
Zoom in and you will see that Regional Banks have closed several times now below this critical trend line. If the Fed fails to save them, deflationary recession/depression it is. I am banking on a Fed save. The Fed always protects it's own. Therefore, blow-off top incoming. Followed by hyper-inflationary recession/depression next year.
Should be a show.
Stew
KRE has provided some of the most technically-sound short opportunities in recent memory, but it is approaching major support at which point the probabilities flip to the long-side (with disciplined risk management). Expect some choppy price action, but remain patient for one last leg down and a very promising long opportunity
Traders,
Bitcoin has reached the end of a very important triangle. It's time to make a decision. This week we should find out if:
1) Bitcoin breaks up and beats our 30,500 resistance, or
2) Bitcoin drops from our triangle and retests our C&H neckline at 25,300
We are going to dig into the charts for a few more clues and I want to show you the charts that are...
Traders,
Though, I've expressed this all along this past year, regional banks are now confirming everything I've stated regarding JPOW and the FED only having two choices about the future of the U.S. economy: deflationary recession/depression OR hyper-inflationary recession/depression. The line in the sand has been drawn and crossed. Should the FED attempt to...
In times of crisis, investors rush to safety. When risk shows in places of safety, bank runs begin. One's pain is someone else's gain. Silicon Valley Bank (SVB) & Signature Banks' combined assets at $300 billion is witnessing a flight to safety.
At $300 billion, it is trivial relative to $23 trillion within the American banking system. Remember that the FDIC...
Checking out a chart of KRE the regional banks have been the epicenter of the latest banking crisis. The FED has responded with BTFP to try and get ahead of the problem of mark to market losses on MBS and treasury holdings, but is it enough? I would have expected confidence in the sector to be somewhat restored and stock prices to have a relief rally. But...
If you want a demonstration of the Wave principle in real life look no longer than KRE.
It is a textbook example of an impulse wave started on 23 March 20220.
Wave almost 61.8% retracement of Wave 1
Extended 3rd wave with a 2.00 multiple of Wave 1
Wave 4 has almost 0.382 retracement of Wave 3.
And the most important one: the entire impulse wave is divided...
While Bank Regulators are trying to put together a package to save FRC First Republic Bank with JPM and Morgan Stanley, other hammered regional banks are looking like a bottom. PACW has a book value of 29.50 and a cash per share value of 17 dollars per share. FDIC Insured deposits account for 40 percent of total deposits, making a run less likely than FRC which...
