What You Ought To Know About Bank Stocks
Bank stocks have been the primary beneficiaries of the so called “Trump Rally” and the reason behind the market’s strong surge off of November 4th low.
Yet, as the chart above suggests, their run might be coming to an end. The breakdown above is an important initial step. I believe a clear break below $40 would confirm the top and today’s reversal. Plus, the ETF has a number of large up gaps it would would have to close. In other words, a push to November lows, at the very least, is highly probable.
Not only that. A breakdown in this ETF would also suggest that the market rally might be over as well. This is an important data point to watch over the next few days/weeks.
If you would like to find out exactly what happens next based on our Timing and Mathematical work, please CLICK HERE.