KBE - the banks are up again
For two months now, KBE – the SPDR S&P Bank ETF – has been trading above its ascending 10-day exponential moving average. As an additional sign of strength, this moving average is itself moving above the 20- and 50- day exponential moving averages.
The fast that MACD has leveled of and is moving along its signal line means that momentum is mature and it’s not getting stronger with time.
In addition to the above, KBE’s Relative Strength is also moving up and mostly above its 20-day exponential moving average.