NEW YORK (TheStreet) -- Earnings season begins next week, and by the end of April, all 24 components of the KBW Banking Index (BKX) will release their earnings results for the first quarter of 2014.
My latest coverage of the banking index was posted on March 24 in "Regional Banks Spike Higher On Passing Fed's Stress Test." At that point, 19 of the 24 components of the banking index participated in the Federal Reserve-mandated stress tests. The results were released on March 21.
Zions Bancorp (ZION) ($31.69, up 1.4% since March 21) was the only bank that did not pass the stress test. This stock set a multiyear high at $33.33 on March 20, in anticipation that it would pass the test. Weakness to $29.38 on March 27 was a test of its 200-day simple moving average at $29.40. The weekly chart is neutral, with the five-week modified moving average at $30.81 with declining stochastics. Quarterly and monthly value levels are $30.70 and $29.25 with semiannual risky levels at $32.58 and $35.11.
On Wednesday, I provided an earnings calendar when I crunched the numbers for the 30 components of the Dow Industrial Average