Indices 20/03, page-4

"If the banks are such a problem, why isn't the Nasdaq tanking as well?"

Because the bulls are pricing in anther Fed pivot (in this case a pause) and the Nasdaq etc is rates sensative hence the inflows. We are back to this BS ramp. If the Fed raises 25 point that will sort it out so bulls better hope the Fed doesn't or Nasdaq will play catch up to the downside at some stage no matter how much money they throw in. New lows won't take too long May/June IMO.

P.S. We should get a small rally here but depending on if its to put that right shoulder in or a weaker rally won't last long IMO. Banking issues far from done with dozens on dozens of banks in US being reported on the edge as more money is drawn out. If we do rally into the Fed meeting should give them the excuse to raise just as the ECB did. Lets all see.

EDIT: If we do get a Fed pause I should have said still won't save the markets just delay the inevitable and IMO still see new lows May/June.