Here are some wave patterns of the Global Banks. Most seem to follow the pattern of the global financial ETF IXG and Banking Index BKX. For some banks 2007 marked a Supercycle Wave V Top. For other banks it marked a Grandsupercycle Wave (V) Top, and the ensuring correction was more severe. General it was the older banking institutions and those that dabbled with credit derivatives.
Japan: Mitsubishi UFJ – MTU ($78bn), SMFG ($56bn), Mizuho – MFG ($48bn), Nomura – NMR($23bn)
For Japanese Banks it is hard to understand the long term wave count without first looking at the long-term chart of the Nikkei 225. For simplicity we have labeled the 2008 correction A and the rise to 2014 B – in line with the other global banks. Wave C is to come.
Canada: Royal Bank of Canada – RY($96bn), Toronto Dominion Bank – TD ($87bn)
The price performance of the Canadian Banks have been one of the strongest globally with new highs reached in 2013-2014.