Downside fireworks – Some more?

Monica Kingsley Monicakingsley

S&P 500 reversed lower shortly after the opening bell, and the downside move served to all clients resulted in over +100 ES points (and over +500 NDX pts) – the regional banking panic worked its magic (Zions taking the charge, Dimon‘s words about more than one cockroaches being there usually).

And now, after the assurance „all is fine in the regional banking space“, buyers should be rushing in with greatest conviction ever? Sure, we got that rebound off Friday‘s closing values retest in S&P 500 – but what can we learn over the weekend, and have we seen the capitulation that I was complaining about not seeing with Friday‘s close?

Author

Monica Kingsley

Monicakingsley

Monica Kingsley is a trader and financial analyst serving countless investors and traders since Feb 2020.

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