Indianapolis Investors Meetup – March 5th

On Thursday March 5th I’ll be co-hosting with Tadas Viskanta, founder and editor of Abnormal Returns, the first Indianapolis Investors & Traders Meetup, sponsored by StockTwits.

If you are in the Indy area and want to come hang out, grab a drink, and meet some other traders we’d love for you to come. We’ll be meeting at the Upland Brewing Company (Carmel Tap House) from 5:30 to 7:30. For more details click here.

Stocktwits meetup MeetUp

 

Are Regional Banks Getting Ready to Breakout?

The Financial Sector has had a rough start to 2015, down 2.39% and is the weakest of the nine S&P sectors. With rates continuing to fall traders have not been showing much love to the banks. With weakness can come interesting chart setups and I think one is developing within a sub-industry of the Financials sector – Regional Banks.

For the bulk of 2014 we saw Regional Banks ($KRE) trade in a range between $41 and $37. However, last week we saw a strong bounce in the banks, climbing 8.5%. This comes as price bounces off the 100-week Moving Average and we see a test of support in momentum.

Currently the Relative Strength Index (RSI) has been making lower highs while also staying above ‘oversold’ territory and in a somewhat of a bullish range. If buyers continue to step in then we could see the RSI indicator break out from its multi-week down trend.

When I look at an industry within a sector I like to track how that industry is performing relative to its sector as well as the sector to its major index. As Financials ($XLF) have been under-performing the S&P 500 ($SPY) for the last year and a half, Regional Banks ($KRE) have been unable to keep up with Financials. Since the start of 2015 Regional Banks have begun to outperform the Financial Sector. Is this an early sign that Financials will also in turn begin to have better performance themselves?

regional banks

While $KRE has been in trading range for a year, this consolidation is occurring after an up trend, which is a bullish characteristic and could lead to another leg higher for the industry as the up trend does in fact continue.

Disclaimer: Do not construe anything written in this post or this blog in its entirety as a recommendation, research, or an offer to buy or sell any securities. Everything in this post is meant for educational and entertainment purposes only. I or my affiliates may hold positions in securities mentioned in the blog. Please see my Disclosure page for full disclaimer. Connect with Andrew on Google+, Twitter, and StockTwits.

Headed to San Diego For the TD Ameritrade Conference

I won’t be posting this week as I’ll be leaving tomorrow bright and early (5:45 am flight) for San Diego to attend the TD Ameritrade National Conference. This will be my first year attending the TDA event but from what I’ve heard it’s well organized with has some great topics and discussions with regards to the asset management industry. I’ll be sure to tweet some of the interesting points I hear from the breakout sessions.

It’ll also be nice to feel warm temperatures again while getting a break from this Indianapolis winter!

If you’re also attending the conference be sure to hit me up on Twitter or StockTwits.

Disclaimer: Do not construe anything written in this post or this blog in its entirety as a recommendation, research, or an offer to buy or sell any securities. Everything in this post is meant for educational and entertainment purposes only. I or my affiliates may hold positions in securities mentioned in the blog. Please see my Disclosure page for full disclaimer. Connect with Andrew on Google+, Twitter, and StockTwits.