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May Not Survive A Punch In The Face
You know what they say about plans and getting punched in the face by a run on the bank. At the time of writing what is certain is that the FDIC has assumed control of Silicon Valley Bank meaning insured accounts of sub $250k are protected. FinTwit is lit with speculation about what happens to uninsured deposits, which is to say, almost all the deposits. The 'contagion' argument appears to be less noisy than it was, as the special nature of SIVB's problems - which is to say the self-harm it has caused itself by seemingly failing to use basic risk management to balance assets and liabilities - becomes clear.
Let’s turn to our usual index charts in the larger- and smaller-degree. As always these actionable levels are for our paying members only. You can sign up to a paid membership right from this link to receive daily blow-by-blow analysis of the major US indices in the longer- and shorter- timeframes, always with directional analysis and support / resistance levels flagged in ETF and futures instruments.