On Wednesday, the FOMC will release regional banking sentiment, creating more uncertainty regarding their June 25th decision and sending the markets lower.
Our readers should never force trades and the path of least resistance today is still down. The list of negative factors is getting longer and the negativity has now spread to Asia and Europe. The banking crisis is no longer solely a U.S. phenomenon and global inflation will be combated with higher interest rates and therefore slower growth for equities. The banking regulations ahead will take a heavy toll on the S&P, as a majority of that Index is weighted with financials. We did write about avoiding financials many weeks ago. Although we are against regulations, the global consumer has now taken center stage and is demanding some kind of relief action. Please remember to follow the 11 Commandments and 7 Pillars.
The Psychology of the Call team wishes you a profitable week.