U.S. regional banks might be making a short-term bottom on Friday as seller exhaustion appears to have emerged following four consecutive sessions of losses in bank shares, according to Mark Newton, head of technical strategy at Fundstrat.
The SPDR S&P Regional Banking ETF KRE was on pace for a 10.7% loss this week after the seizure of First Republic Bank and its subsequent takeover by JPMorgan Chase JPM failed to arrest a slide in U.S. regional-bank stocks.
PacWest…
