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[jmicou]

KBW Bank Index is breaking down from a large wedge (top tl 2010 to 2014 highs & lower tl 2011 to 2014 lows.). Completed 5 waves up from 2011 low and three waves up (abc?) from 2009 low; the latter may have completed a corrective rally. The recent high took price up to between the 50 & 61.8 fib levels of 2007 high to 2009 low. This could be bearish for the equity markets and bears watching. First 3 pivot points down: 65.95, 64.85 & 62.25.

Edited by jmicou, 15 January 2015 - 12:29 PM.

[jmicou]

KBW Bank Index is breaking down from a large wedge (top tl 2010 to 2014 highs & lower tl 2011 to 2014 lows.). Completed 5 waves up from 2011 low and three waves up (abc?) from 2009 low; the latter may have completed a corrective rally. The recent high took price up to between the 50 & 61.8 fib levels of 2007 high to 2009 low.

This could be bearish for the equity markets and bears watching.

First 3 pivot points down: 65.95, 64.85 & 62.25.

Oops. The index is BKX, not BKK.