The rally in the bank stocks was unable to hold yesterday. So, the group remains in correction territory…and thus vulnerable.
That said, the almost daily rotation between the chip stocks & the hyperscalers is keeping the tech sector buoyed for now.
The post-election action in the stock market in midterm elections years is usually positive…but that was not the case (at all) in 2018…..Given what is going on in the credit markets & the financial sector in recent weeks/months, it might not be a good one this year either.
