KBW Nasdaq Bank Index - 3 Scenarios
The KBW Nasdaq Bank Index (BKX) is a benchmark index that tracks the performance of leading US-based bank companies. The components of the BKX index as of my knowledge:
Bank of America
Bank of NY Mellon
Capital One Financial
Citigroup
Comerica
Commerce Bancshares
Cullen/Frost Bankers
Fifth Third
Huntington Bancshares
JPMorgan
KeyCorp
M&T Bank
Northern Trust
PNC Financial
Regions Financial
State Street
Truist Financial Corp
U.S. Bancorp
Wells Fargo&Co
Zions
Since price has lost the 94,94 key support the same level is now Resistance...
My chart shows 3 Scenarios:
1. The 'Good Scenario' shows dip of around 10% and rebound at 79-80$
2. The 'Most Likely Scenario' would be a test and rebound from 70,56$ (dual key support area around 25% lower)
3. The 'Bad Scenario' would be the revisit of 2008 crisis lows (early 2009 aftermath lows at 20 with 32 also offering a massive support level as well as potentially a huge opportunity for investors to buy in/or back in.
There is a doomsday 4th scenario for those who like to 'look for it'.
Will also post next a mini-chart on smaller timeframe:
One Love,
the FXPROFESSOR
Bank of America
Bank of NY Mellon
Capital One Financial
Citigroup
Comerica
Commerce Bancshares
Cullen/Frost Bankers
Fifth Third
Huntington Bancshares
JPMorgan
KeyCorp
M&T Bank
Northern Trust
PNC Financial
Regions Financial
State Street
Truist Financial Corp
U.S. Bancorp
Wells Fargo&Co
Zions
Since price has lost the 94,94 key support the same level is now Resistance...
My chart shows 3 Scenarios:
1. The 'Good Scenario' shows dip of around 10% and rebound at 79-80$
2. The 'Most Likely Scenario' would be a test and rebound from 70,56$ (dual key support area around 25% lower)
3. The 'Bad Scenario' would be the revisit of 2008 crisis lows (early 2009 aftermath lows at 20 with 32 also offering a massive support level as well as potentially a huge opportunity for investors to buy in/or back in.
There is a doomsday 4th scenario for those who like to 'look for it'.
Will also post next a mini-chart on smaller timeframe:
One Love,
the FXPROFESSOR
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