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Nasdaqbankindex

US Banks & Financial Sectors are ready for another fabulous riseNasdaq Banks The bank index has been on a rollercoaster ride, witnessing numerous price fluctuations. Following the breakout of the double bottom pattern, the index surged and formed a Rising Wedge pattern. However, once the pattern broke downwards, the bank index experienced a significant decline. Upon hitting a support level around 2,650, the index established a Double Bottom pattern, signaling a potential trend reversal. Subsequent to the breakout above the neckline, the bank index began consolidating within a tight range. Most recently, another breakout has occurred, setting the stage for a potential upward rally. S&P 500 Financials After the market crash in 2020, the index fell into an oversold zone and stayed in a period of consolidation within an Ascending Triangle formation. Following this breakout, the financial index experienced a strong rally to the upside. However, it struggled to break above the 700 level and began to decline. Subsequently, the index went through a lengthy consolidation inside a Box formation. After another breakthrough, the index surged once more and created a bullish Pole & Flag pattern. With a recent breakout, the financial index is poised for another upswing.
NASDAQ:BANKLong
by NaranjCapital
NASDAQ Bank Weekly ChartNASDAQ Bank's market behavior is currently unfolding within the context of a cyclic wave pattern, specifically in its fourth wave. This cyclic wave pattern is a representation of the bank's price movements over time, and it is comprised of various phases that can be broken down for analysis. Starting from its inception, the bank's journey has been marked by significant trends known as primary waves. The first of these primary waves, primary wave 1, was completed in April 1987. This was a period of notable growth or decline that had a discernible impact on the bank's stock prices. Following this, primary wave 2 occurred in October 1990, representing another distinct phase of movement. Primary wave 3 followed suit, transpiring in April 1998, with its own unique characteristics that influenced the bank's market performance. Subsequently, primary wave 4 emerged in February 2000, accompanied by primary wave 5, which concluded in December 2006. These five primary waves collectively constitute what is referred to as wave I within the larger cyclic wave pattern. This initial cycle, termed cyclic wave I, reached its peak in January 2007, signifying a culmination of upward movement. However, as market dynamics are characterized by both upward and downward trends, a subsequent downward movement, known as cycle wave II, occurred from January 2007 to February 2009. This phase might have been influenced by broader economic factors or specific developments within the banking industry. Continuing the sequence, within the context of cyclic wave III, five new primary waves unfolded, each shaping the bank's trajectory in distinct ways. Following the completion of these primary waves, there was a retracement during primary wave IV, which spanned from an earlier point until May 2023. Retracements often represent periods of consolidation or correction in the market. As of the present moment, the bank's market behavior indicates the initiation of wave V within the cyclic degree. This implies that the bank is entering a new phase of market activity, and its price movements are anticipated to be influenced by a fresh set of factors and trends. In conclusion, the bank's journey within the cyclic wave pattern is a dynamic interplay of upward and downward trends, with each wave representing a distinct phase of market behavior. Understanding these patterns can assist investors and analysts in making informed decisions based on historical trends and anticipated future movements. Disclaimer: The following explanation is for educational purposes only and does not constitute financial advice. Market behaviors are subject to various factors and can be unpredictable. Past performance is not indicative of future results. Always consult with a qualified financial professional before making any investment decisions.
NASDAQ:BANK
by imkhushal
KBW Nasdaq Bank Index 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
NASDAQ:BKXShort
by FX_Professor
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
NASDAQ:BKXShort
by FX_Professor
Bank Stocks: Bullish breakout. Strong long-term Buy Opportunity.BKX (Nasdaq bank index) has just broken above the Lower High trend line (dashed lines) of the 1W bearish (pull back) leg within the greater pattern of the multi year Channel Up since 2012. The technicals have turned bullish on 1W (RSI = 59.797, MACD = 1.140, Highs/Lows = 5.1079) and even the RSI is on identical levels with the last time a similar break out took place in 2016. We are expecting a fairly similar bullish break out on the long term towards 140.00 - 149.80 (Target Zone). ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
NASDAQ:BKXLong
by InvestingScope