Regional Banks will take a bit more time to bottom out

Broad-based selling gripped SPX for a second straight session as 410 of the 500 SPX names fell in trading, and SPX has now given up around 25% of its prior rally from mid-March.

Overall, it looks a bit early for SPX to bottom, but this could be likely into Friday of this week into Monday 5/1 on further weakness.  Momentum is not yet oversold, but it’s likely that recent escalation in some of the shorter-term sentiment measures like Fear and Greed, might evapor...

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