Dow Jones Banks

Dow Jones Banks index was discussed earlier as well and it looks like it is forming a triangular pattern in wave 4. Also, it is holding above 40WEMA and the weekly lower Bollinger band which are coinciding around the same level of around 525. Dow Jones Banks index is expected to consolidate for some more time if it forming a triangle pattern in wave 4 and this would mean that one more leg of up move in the form of wave 5 will possibly play out once the consolidation is complete.