Looking back at last weeks Regional Banking sector crash
You could say that the crash continued yesterday, but then you would be wrong. Stocks ended up.
The selling has been pretty much contained to the Regional Banking sector.
First off: Let me show you what the Regional Banking sector chart looks like.
I think most traders don't even know there's a Regional Banking (sector) chart, or you would be seeing more of this on television, and social media.
I see a gap target on the Regional Banks. We already saw a partial gap fill, and probably a little short covering.... I don't own this btw pic.twitter.com/NNlQwIop8Y
— Veteran Market Timer (@3Xtraders) March 13, 2023
The $KRX (KBW) is the Regional Banking Index, and of course I have the charts, but I don't want to give my targets away. Instead, we'll use the $KRE...
$KRE - SPDR S&P Regional Banking Sector - After trading sideways for 2 years, the right shoulder on a massive Head & Shoulders Pattern, is finally sold, resulting in the typical waterfall pattern. There is nothing new under the sun, and this is what typically happens when the rug is finally pulled.
This would've been a good chart to included in my recent blog - dated March, 9th:
How Long Can The Market Continue To Trade Sideways?
While it took quite a while for this sector to finally crash, as it turns out, the warning on this sector was sounded quite a while ago.
Ever notice how the best headlines, seldom come from CNBC, Bloomberg, FOX, or CNN? I do!
I kind of get the feeling that this crash has been in the planning stages for quite a while now, and the rug pulled at a specific point in time, for a specific reason.
Could it be that they were hoping to crash crypto currencies, and the crypto banks with it? I'm sure that there is nothing,"the powers that be" (the money printers) would like to do more... but if that was their goal they failed miserably.
Bitcoin up nearly 10% - the sound of crickets from the bought and paid for corporate MSM
#Bitcoin up nearly 10%. #CNBC wont even report it, because it doesn't fit the official narrative. https://t.co/IzvGPqzEbK
— Veteran Market Timer (@3Xtraders) March 13, 2023
So, is that the end of the crash, or just the beginning of the end, for the regional banks? I can't really say... but once the charts are broken, they tend to remain broken.
My best guess is that the big banks planned this thing, knowing they can snatch up these smaller regional banks, or take over the loans. That conspiracy theory is hidden in plain sight.
Watch for the bank members of the federal reverse to offer this solution to the problem they themselves caused. They'll could call it a "rescue", just like they did when they bailed out the criminal banking cartel in '08!
Create a problem, offer a solution
Create a banking collapse, take over the banks.
Create a new deadly Virus, sell a vaccine.
Destroy a currency, create a cashless society.
Create a system collapse, create a new socialist republic.
Destroy the United States, create a new global governance (NWO)
Take care,
AA
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