Afternoon Note
All eyes had been on the banking sector since the fall of Silicon Valley Bank but the big move since late October helped to assuage investor fears. Soon nobody was worried about banks anymore.
This morning, regional banks are looking more vulnerable after Pinnacle Financial (PNFP) posted its financial results. Suddenly, a key inflection point is in play as a must hold support.
Meanwhile, commercial bank credit and bank loans growth rates remain negative.
Meanwhile, the market is exhibiting spunk but there isn’t leadership. We see a potential swoon into the close, in part because there is nowhere to hide.
Comments |
I am worried about the government putting everyone on a type of credit card that everyone uses. They could control everyone? Is this a possibility? Roy R Ramseier on 1/21/2024 12:35:10 AM |
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5/16/2024 1:23 PM | Dow 40,000 |
5/16/2024 9:40 AM | AUTOPILOT FEELS SO GOOD |
5/15/2024 1:53 PM | New Hope |
5/15/2024 9:41 AM | CHAMPING AT THE BIT (INVESTORS BEGINNING TO CHASE) |
5/14/2024 1:24 PM | Small Moves |
5/14/2024 9:22 AM | Marking Time |
5/13/2024 1:37 PM | Snuffed Out |
5/13/2024 9:37 AM | BRACING FOR MORE INFLATION DATA |
5/10/2024 1:23 PM | Cold Water |
5/10/2024 9:58 AM | IN TUNE |
5/9/2024 1:09 PM | Disconnect |
5/9/2024 9:39 AM | THE SEVENTH (TRADING) DAY OF MAY |
5/8/2024 1:49 PM | Mixed Note |
5/8/2024 9:37 AM | CHANGING NARRATIVES |
5/7/2024 1:50 PM | Building Gains |
5/7/2024 9:36 AM | HOPING MICKEY SAVES THE DAY |
5/6/2024 1:59 PM | Rate Cut Hopes |
5/6/2024 9:17 AM | LOOKING FOR MOMO TO KICK BACK IN |
5/3/2024 1:41 PM | Cheering the News |
5/3/2024 7:33 AM | TIM COOKS THE (RECORD) BOOKS |
5/2/2024 1:54 PM | Holding Up |
5/2/2024 9:41 AM | COOL HAND POWELL |
5/1/2024 1:22 PM | Which Powell? |
5/1/2024 9:40 AM | MAY DAY, MAY DAY, MAY DAY |
4/30/2024 1:02 PM | Complete Flop |
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