Regional Bank Brawn:
The regional banks have been acting better than their larger cousins as in 2022 the KRE is higher by more than 4%, as the XLF trades just above UNCH thus far. Perhaps that has to do with a good chunk of the Russell 2000 being in financials, and that benchmark has seen some clout as of late. Some names in the group are attractive. CFG which met resistance at the very round 50 number last October and November now looks supportive. HBAN looks heavy after filling in the upside gap from the 1/20 session. FITB has the look of forming a handle at the very round 50 number and a potential entry would be above a cup with handle pivot of 50.23. SIVB is nearing bear market mode off 19% from the highs it achieved last November, with most of the damage coming from a 17% WEEKLY decline the week ending 1/21. Below is the chart of a decent actor in the space with MTB. Remain cautious until a CLOSE above 187. If that bull flag is taken out, look for a measured move to 217.