It’s a bit more complicated but basically interest rate hikes are good for banks and bad for bonds right now bonds are getting a bounce so banks are getting a dip. I think this is a temporary ordeal from what I’ve been reasearching and also from @TheHouse dd on stagflation as well. I have a historic resistance on the 10 year bond prices charted I’d expect a bounce around there I don’t see a fundamental shift for the bond market rally.
No script indicator on this rn but there wasnt last time either. WFC is close to the bottom of Channel, could bounce here or come down a little bit more. bank earnings are all coming up. Closer view below:
I think you would be fighting the greater market trend. This coming week with mega-tech earnings is going to make the market move dramatically in one way or the other.