A slumping residential real estate market could also hamper ETFs such as KBE and XLF going forward.
“I’ve been very bearish on the group all year long but we’re now getting to some levels here,” Maley said Thursday on CNBC’s “Trading Nation.” “If you look at the KBE bank ETF which just has banks in it and no credit cards or insurance companies, it’s getting down to its 200-week moving average. That level is also the same level that we saw at its lows in 2017.”
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