The market is headed higher this morning with the S&P 500 reaching over half a percent in pre-market trading. The market looks pretty bullish at the moment as all the major sectors either ended the day yesterday even or 1-2% in the green. That bullish appears to be ready to continue as we head into Thursday’s session. Given the current sentiment, let’s take a look at a possible candidate that fits the profile of our trading strategy.
SPDR S&P Bank ETF (KBE)
After the implosion of Silicon Valley Bank, many investors got spooked out of the Financial sector, more specifically, the banks. However, up over almost 3% in the past five days, the KBE looks like it might want to make a comeback.
The fact that the industry lost so much market cap during the fall of SVB is actually something that points in our favor. Now, we can look for a recovery of some of that value. Much like in the wake of the 2008 financial crisis, many investors were…
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