If you would recall, about this time last year a number of regional banks failed and most market participants were screaming “bloody murder”. Some even argued that FDIC would go insolvent and the media did their “the sky is falling” bit in an attempt to get some sort of a bank run going.
It all failed.
Instead, the Regional Bank ETF (IAT) bottomed around $30 and never looked back.
Here is what we said in our update from April 20th, 2023
- Our calculations suggest IAT most likely bottomed on March 24th. A slightly lower secondary bottom is possible on May 2nd (+/- 2 trading weeks) at $30 (+/- 1). Not as exact as we would like it to be, but to be honest, we didn’t spend too much time trying to narrow down the time/price window. The idea is not to trade the above, but rather, to suggest the so called “banking collapse credit crunch” is over.
- Once the bottom is confirmed IAT will……………
In other words, IAT is doing exactly what it should be doing. And what happens next is rather fascinating.
If you would like to find out what IAT will do next, in both price and time, please Click Here