Mr Buffett stepped forward last week and bought up a good piece of Bank of America stock. Speaking of bank stocks, the regional bank ETF chart below could be something he might like to own as well…check it out!
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This is anything but an ideal “Inverse Head & Shoulders” pattern, yet it sure could be sending a positive message! If the pattern read is correct and KRE can break above the neckline zone, this ETF could pick up a quick 10% before it hits the next key resistance zone.
The broad market needs the banks to go along for a quality upside ride! Watch the action of this regional bank ETF, because an upside breakout could send some strength to the broad market!