Last post on KRE: https://bartscharts.com/2024/02/18/kre-february-18-2024/
Since the top in KRE around 77 EVERY down move swing has been equal to or close to the “read measured move arrow.”
I added volume tonight because I wanted to see if we had a BIG volume spike accompanying the pretty bullish engulfing candle (daily) that occurred on Friday. Volume is around the norm … take a look at when KRE bottomed. That’s a “capitulation” low.
We have a small gap that needs to be filled before we move into the crucial 42 area for the Regionals.
If Regionals are “ok” then this is a BUY PATTERN and KRE should find support in/around that level.
If the Regionals are “not ok” then, well, that level will NOT hold and the KRE will, more than likely move lower quickly.
Very interesting …
