Bank Stocks May Offer Upside
Gary S. Morrow | Nov 03, 2020 04:04PM ET
The bank sector index KBW Bank is up over 3% in the early going, nice follow through after Monday’s 2.6% gain. This powerful move is driving the index towards its first close above $81.00 since June 10. This week’s low is looking very solid.
The day after the 2016 election (Nov. 9) the BKX surged nearly 5%. The BKX finished that week with a 12% gain. The low on Nov. 9, 2016 was $75.65. Election week low 2016 was $72.90. Election week low 2020 is $76.80. The BKX closed out 2016 with a 28% post election gain....
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