SPRD S&P Bank ETF daily chart looks bearish
50-DMA has topped out and is now sloping downwards.
The rising trend line was breached in mid-May. An attempt to take back the rising trend line failed.
We also have a bearish breakdown of the triangle formation.
The bearish price chart suggests bank stocks could lose altitude in the coming days. This goes will with the flattening of the treasury yield curve.
The rising trend line was breached in mid-May. An attempt to take back the rising trend line failed.
We also have a bearish breakdown of the triangle formation.
The bearish price chart suggests bank stocks could lose altitude in the coming days. This goes will with the flattening of the treasury yield curve.
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