Banks Underperfomed the S&P 500 :RF, SNV, BAC

Published on Tuesday, 24 January 2012 16:46 Written by Christopher Lynn

New York, January 24th (TradersHuddle.com) - The KBW Bank Index closed lower at $43.46, which represents -0.32% from its previous close. The bank index had an overall mixed day with 12 index components closing higher.

Regions Financial (NYSE:RF) was the top performer of the banking index, closing at $5.23 representing 6.3%. versus the previous trading session. Shares of Regions Financial, the Alabama based regional bank have defined support at $4.53 and resistance at $4.99.

Synovus (NYSE:SNV) was also among the top performers, closing at $1.73 representing 6.14% from its previous close. Synovus, the financial services holding company based in Coumbus Georgia has calculated support and resistance levels at $1.54 and $1.71 respectively. The other top performer was Bank of America (NYSE:BAC), which traded at $7.29 representing 0.55% from the previous trading session.

The bank's worst performers include Zion (NASDAQ:ZION) that closed at $17.15 or -7.55% from the previous close. Shares of Zion, the collection of regional banks with operations in the Western U.S. have defined support at $14.52 and resistance at $19.00. Also among the worst performers was Capital One (NYSE:COF), which is currently trading at $45.04 representing -2.28% from the previous trading session.

Today, the banks underperformed the broad market index S&P 500.