Nasty head and shoulders on the KBWB bank ETF. This is contradictory to all soft landing narratives. Support broken, heading toward the red zone.
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...
Most likely now the prices are in the final fifth wave of the downward movement. The first downside target is 50.90. The final target is 45.60
70-74 call spread for July 16th. An OK gamble.
"Bottom Triangle" chart pattern formed on Invesco KBW Bank ETF (KBWB:NASDAQ). This bullish signal indicates that the stock price may rise from the close of $40.89 to the range of $57.00 - $61.00. The pattern formed over 119 days which is roughly the period of time in which the target price range may be achieved, according to standard principles of technical...