The Regional Bank SPDR (KRE) perked up with a bounce above 36 on Tuesday, but gave it back with a sharp decline on Wednesday-Thursday. Broken support and the late August gap ultimately held as resistance. The flag break signals a continuation lower. Also notice that KRE shows relative weakness as the price relative (KRE:SPY ratio) broke its July low. Click here for a live chart.
Click this image for a live chart.