KBW Bank Index longer term technical structure remain bullish while it’s holding above 2016 low 55.99. But we need further data before we can determine if the index needs more time to consolidate or It will be able to rally for new highs after ending the current 3 waves correction which can reach 81 area or . This decline will affect the whole Financial sector and its stocks can be fading the so called Trump rally so you need to be careful about holding a bank stock during this pullback.

$BKX Chart : https://elliottwave-forecast.com/wp-content/uploads/2017/04/BKX-Daily-ABC-04132017-1024×500.png

Source : https://elliottwave-forecast.com/stock-market/kbw-bank-index-extended-correction/

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