The base has formed a decade-long Cup/Handle pattern that is currently in motion. November's breakout kicked off the pattern and since we have seen price consolidate sideways, all the while holding above that 2006 high.
This is a huge pattern and these don't resolve overnight or over the course of a few weeks. Often the length of rally will resemble the length of base its emerging from. It is not impossible we could only be 7-months into a 10-year bull market for Regional Banking stocks.
For this analysis to be invalidated price would need to trade below the November 2016 low.
A breakdown below the $51 support would become more problematic for the intermediate-term trend. Above that however the setup remains very constructive.
Due to the size of the overall pattern on the larger timeframes, this range breakout could be the launchpad to reignite the prior trend.
When viewing Regional Banks on multiple timeframes it appears to me that they are all suggesting the same thing. Patterns don't always play out but they give us an indication of the market's intentions and a way to measure risk.
From my view it looks like these Banks want to push higher, until price suggests otherwise I will continue to put money to work as the patterns suggest.