Dow Jones Banks Index

The entire decline in the Dow Jones bank index [DJUSBK on investing.com] looks like a leading diagonal or 1-2-3-4-5 that is overlapping. Also where 5>3>1. Now if it is a leading pattern then my most often experience is a move both ways that breaks the trendlines on both sides before wave B is complete, like an expanded flat. Only after that wave C down starts. Wave B is usually a small retracement as well.