[BKX] update

The main reason that I would be careful about getting too bullish here is the BKX (bankers) chart.  In the backlink I was looking for a continued rally into a C wave (C of 2) as shown below:



Instead, we got a weaker rally, at least so far.  The two most likely options are that it could break down right now or it could have one more wave up as shown before really selling off hard into 3 or C.  If BKX goes down the whole market will likely be down with it.



If this is going to break down without rallying higher first then it should begin tomorrow or no later than Monday.  Keep an eye on the chart in the current area of support which is dancing on top of the 38.2 fib.  If that breaks down the market will probably count it as a H+S breakdown.