European banks have taken a hammering since the beginning of the year but can I see 5 waves down there to bring the correction to a halt or at least give us a decent rally? Probably too early to say and I would need to see something more positive first but to me it certainly bears watching. Some decent divergence on the RSI as well. I have tried to show two possible counts for the correction with a double zig zag shown in the red while a completed 5 wave A wave is shown in the purple. The one would lead to a B wave rally with further declines to come while the other could possibly begin wave iii. So many divergences in global indexes right now it's hard for me to know what's going on.