Note the S&P traded within 9 points from its February bear market high on Monday before falling 125 points into today’s close.  The market is now in the hands of large depositors ($250k) in the regional banks.  See no evil bank balance sheets are all the rage now, and who knows what evils lurk beneath those sheets.  Therein lies the problem. Uncertainty.

The S&P index has held its 50-day moving average twice this week, including today. The KBW regional bank index is down over 30 percent since the beginning of March and put it in a nice dragonfly doji candle today, which may signal a short-term bottom, or it may not.  Watch this space.  

Aslan Capital is still on the move.