ROUNDUP:
Ryan Detrich: Watch XLF: any positive news could potentially trigger a run [SQUEEZE] in the markets.... Bottom line, impressive resiliency in the face of a barrage of bad news.
Jeremy Siegel: bearishness and apocalyptic predictions outsell optimism.
Lance Roberts: Despite a banking crisis, the market rallied for a second week, triggering buy signals ... Market is setting up for a decent rotation from the safety trade (bonds, gold, tech and communciations) to laggards. Good time to take profits in the winners for now.
A MACD confirming “buy signal” suggests the bulls regained control... Furthermore, the market defended the 200-DMA... despite the negative headlines.
NorthmanTrader: Who's getting bailed out this weekend?
FED 3/22: WE WILL KEEP REDUCING THE BALANCE SHEET AS PLANNED.
FED 3/24 Increases balance sheet by another $93B during the week for a total of almost 400B in 2 weeks... The more they're shouting the banks are stable while bank stocks keep crashing the less credibility they have by the minute... They now have no choice but to back up their words with significant action & prove stability otherwise this could get really ugly fast.
3/23
Jeffrey Gundlach: "I predict the Federal Reserve will be cutting rates substantially soon....I am wrong about 30% of the time so factor that into any decision making."
Goldman: YTD new
buyback actual flow activity running substantially lower than last year's YTD volumes"...
GS: "American households will sell $750 billion of stocks this year in the first annual drop in demand since 2018, thanks to higher bond yields and lower savings"
Jesse Felder: 'When banks fall badly relative to everyone else, the broader market tends to decline. That's because banks matter to the economy. When they're in trouble, it's much harder for anyone else to make a profit.'
Urban Camel: 3/24 [Rarely seen indicator, with non-farm employment in red]:
"Feb truck tonnage up a 3rd month in a row. It's at the second highest level since the Aug 2019 ATH. Trucks carry 70% of US freight. This looks nothing like 2008"