As the broad markets enjoyed a mini rally (one that fell apart at the close), the S&P Bank Index closed at a NEW LOW.
After breaking another support level last week, it too got a little relief bounce, hit resistance and fell down to close at a new low.
This index continues to move lower as indicated by the trend.
It did pause at fib support near 54 which as this point in holding. A close below that level tomorrow would be pretty bearish.
S&P Banking Index: Daily Chart
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