KRE – April 20, 2024

Last post on KRE: https://atomic-temporary-44460632.wpcomstaging.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 …