Watch XLF Today. It Is the Key

March 10, 2023
Author: Peter Stolcers, Founder of OneOption

SVB Financial (SIVB) had to sell assets and that is sparking fear across the financial sector. As banks go, so goes the market today.

MARKET COMMENTS FRIDAY – Yesterday the market attacked the major moving averages and it closed below them. Financial stocks lead the move lower and that is never a healthy sign for the market. Hourly wages only increased .2%. That is great news on the inflation front since it is the largest input cost for companies. However, that news is NOT likely to overpower credit concerns that have surfaced.

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