Banks woke up after Fed
According to minutes of the Fed's latest meeting, U.S. central bankers feel it would be time to raise rates at the next Fed meeting on June 14-15 if hiring and economic growth continue to strengthen and keeps rising. Higher rates are good for Banks and bad for Utilities and REITs.
Banking sector was a laggard compare to broad market but recently has been holding near year's highs. With yeasterday's reaction to Fed's announcment, it triggered an initial Entry after break and close above . I am curful here, as it is only 1 day action and could be erased.
Break of triggered at $23.20 with respective stop at $23. If it builds udner the highs $23.77 new set up, I will add with Target at $24.70 (2015 highs)
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