Community Banks Push Into Record Territory 📈 The Chart Report
Chart of the Day
🏆 Today's Chart of the Day was shared by Alfonso De Pablos.
The First Trust Community Bank ETF (QABA) opened at a new all-time high this morning, and despite some profit-taking, remains on track for a record weekly close.
Financials have been an extreme laggard recently, and if the sector can stage a turnaround, community and regional banks could emerge as early leaders in the recovery.
Meanwhile, regional banks relative to the Financials sector (KRE/XLF) continue to build what appears to be a multi-year base, with a breakout potentially marking the first sign of sustained outperformance.
The Takeaway: After years of consolidation, regional banks may finally be ready to play offense again.
More Great Charts
Breadth has held firm throughout this recent pullback.
View the full tweet from Suttmeier Technical Strategies.
The ratio of Small-Caps relative to the S&P 500 is at its highest level since December 2024.
See the entire tweet from Mike Zaccardi.
The Small-Cap Value & Momentum ETF (XSVM) is making new all-time highs.
Examine the complete post from David Burrows.
Palantir had a false breakout of its descending triangle, and rejected the 200-day moving average.
Its now trying to hold the support level of roughly $126.50
Check out the whole tweet from Jay Woods.
The Global Financials ETF continues to tighten within its coil.
View the entire post from Aksel Kibar.
Historically, the strongest seasonal window for the Pharmaceuticals ETF has been between May 8 and September 6.
See the full tweet from Equity Clock.
The Biotech ETF is forming a symmetrical triangle just above its 200-day EMA.
Examine the complete post from Roy Gulluoglu.
The Energy Sector is still stuck below overhead supply.
Check out the full analysis from Theodore Hicks.
USDJPY is on the verge of a potential 36-Year breakout.
View the whole tweet from Scott Brown.
The Chart Report curates best-in-class technical analysis from across the web.
If you’d like to share a chart or just say hello, email us at [email protected]
