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)