Hi Ophir, thats a big call to say down trend is overSecond chart...

Hi Ophir, thats a big call to say down trend is over

Second chart shows a bit more potential though, It found support on the 76.8 circle fib, & the midline of the 10 year channel.
I'm not convinced it's finished though, not comfortable with the minor wave counts (in the 1st chart's retrace)

I still feel the 38.2 retrace @ 1463 is a strong possibility.

Re the banks, of couse they all got downgraded, havent they just spent the last 2 years boosting their balance sheets with extra capital in the form of bonds....oh no; sorry that was strengthening up the bond market, good ol' Basel deFawlty