Banks are now in E of WC throwover territory [KBE]

At the backlink Sam Collins told us to snap up these banks and my response was basically, sure, for $2 and then GTFO.  Who knows, maybe I will turn out to be shy of the real peak here with my original model.  When analyzed as a rising wedge then $39 or even $40 would make a more satisfying throwover.  But as soon as it breaks out it can't turn back down into the channel without causing big time technical damage.  So it would not surprise me to see a little spurt to $39 ish and then a vee reversal back down as shown.  If the bankers go down, the markets go down.

But make no mistake: that whole rally since 2009 is corrective, not motive.   That's a WC wave IMO.