We include in our watchlist the ETF SPDR KBE (S & P Bank US Index) with a fee of 0.35% and AUM of approximately $ 3 465M. The index is recovering after a short-term correction, which seems to be a good entry point.
The Fed's statement on the state of the US economy and the indication of a likely third rate hike by the end of the year has had an upward impact on the US 10-year rates, which benefits banks whose profits are largely dependent on the yield curve.
The technical configuration shows that the short-term correction is probably completed, as can be seen by the EMA13/26 cross over. It remains however to break clearly the downward line and to confirm the MACD upturn to fully validate this configuration.
KBE : Weekly data
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We include in our watchlist the ETF SPDR KBE (S & P Bank US Index) with a fee of 0.35% and AUM of approximately $ 3 465M. The index is recovering after a short-term correction, which seems to be a good entry point.
KBE : Weekly data