The Long Investor

$VIX TOP 20

Added 2023-04-15 22:38:43 +0000 UTC

$VIX lost support on the top trend line and then came down to test the second trend line support, it lost that too after a surprise positive bank reports, the large banks clearly benefited from the smaller banks in trouble and reinforced their bottom lines....it has been a stroke of genius from the CEO Jamie Dimon from $JPM, $JPM has gotten stronger while smaller banks have become weaker and he suggests that the questionable clouds over the banking sector may not be gone away yet either.....this may mean that $JPM could be looking at more take overs.

Mixed signals coming from the Fed members, some are saying that the financial industry is healthy, while others maintain that banks may have to tighten their requirements.

So What Now?

It is at the previous low support now but it still remains to be seen whether or not this will hold....another important week of earnings, I believe if a bounce is going to come, it needs to come very soon!