Bank Sentiment Update

Here's an update from our note from November 10 on bullish sentiment re:  bank stocks.  At around 60% bullish, this indicator has finally broken out of a 15 month downtrend.  Notice how cyclical the chart has been during that time, compared to the insane swings of the previous two years.  The bank stock index is still range bound for now, but 15% off recent lows, and the tightening Bollinger bands are forecasting a big move soon in sentiment.  Can positive year end economic numbers give the banks a boost?  We're not betting on it.