Regional Banks Coming Back to Life
The SPDR KBW Regional Banking ETF broke its long-term downtrend yesterday.

SPDR KBW Regional Banking ETF (NYSE:KRE) — This exchange-traded fund (ETF) replicates the performance of the U.S. regional banking sector.

Since February, the regional banks have been in a sharp decline as they mirrored the economic outlook of theUnited States, the poor real estate market, and European contagion that has had an impact on the larger banks. But it appears that because of their limited exposure and recent improvement in many sections of theUnited States, the sector has come back to life.

Yesterday, KRE broke its long-term downtrend by closing above its bearish resistance line and 200-day moving average. Thus, its long-term trend is now up and its 12-month target is $30-plus.

Traders should also consider profitable banks for active trades. Next week, I will review several favorites including BB&T (NYSE:BBT), SunTrust (NYSE:STI), Fifth Third Bancorp (NASDAQ:FITB) and KeyCorp (NYSE:KEY).

Trade of the Day – SPDR KBW Regional Banking ETF (NYSE:KRE)
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