Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
The SPDR S&P Bank ETF (KBE) ran in place between 2013 and 2016 despite the strongest bull market in decades. It broke out in November 2016 but underperformed badly in 2017, grinding sideways after the brief but vertical rally impulse. An advance into 2018 ended quickly, trapping bulls in a persistent decline that found support in October at the September 2017 low. Price action since that time has been bearish, with a bounce to resistance at the 50-day exponential moving average (EMA) followed by a sell-off that is now testing the prior low.
