All eyes had been on the banking sector since the fall of Silicon Valley Bank but the big move since late October helped to assuage investor fears. Soon nobody was worried about banks anymore.

This morning, regional banks are looking more vulnerable after Pinnacle Financial (PNFP) posted its financial results.  Suddenly, a key inflection point is in play as a must hold support. 

Meanwhile, commercial bank credit and bank loans growth rates remain negative.

Meanwhile, the market is exhibiting spunk but there isn’t leadership. We see a potential swoon into the close, in part because there is nowhere to hide.