Market Overview

Shares of KBE Down 6.9% Since Downtrend Call on Shares

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(via COMTEX News Network)--

SmarTrend identified a Downtrend for SPDR KBW Bank ETF (AMEX: KBE) on March 02, 2011 at $25.95. In approximately 4 months, SPDR KBW Bank ETF has returned 6.9% as of today's recent price of $24.15.

In the past 52 weeks, shares of SPDR KBW Bank ETF have traded between a low of $21.19 and a high of $27.77 and are now at $24.15, which is 14% above that low price.

SPDR KBW Bank ETF is currently below its 50-day moving average of $24.36 and below its 200-day moving average of $24.82. Look for these moving averages to decline to confirm the company's downward momentum.

In the last five trading sessions, the 50-day MA has fallen 0.57% while the 200-day MA has remained constant.

SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of SPDR KBW Bank ETF.

Write to Chip Brian at cbrian@mysmartrend.com

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