In today’s briefing:
- KRE Lead Breakdown
KRE Lead Breakdown
- Bank jitters touted to resurface in May with growth concerns topping falling inflation data. SPX MACD in focus as a key bearish driver.
- KRE bear break below 42 support targets 32.40 and will bleed into the SPX and the global cycle.
- MACD cycle trough expected near mid-June and will set the stage for a bull recovery. Until then we are selling bounces per our May/June negative cycle.
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