UBS reaches agreement to buy Credit Suisse after upping offer: report:
https://www.foxbusiness.com/economy/ubs-reaches-agreement-to-buy-credit-suisse-after-upping-offer-report
Did SVB break the Fed? Officials mull risks of more rate increases:
https://www.reuters.com/business/finance/did-svb-break-fed-officials-mull-risks-more-rate-increases-2023-03-20/
FOMC Meeting this Wednesday

Credit Suisse / $CS

We normally expect price action like this from some crypto shitcoins, but this is Credit Suisse, the 45th largest bank in the world (now being bought up by the 35th largest bank in the world - UBS)
Stock price printing new all-time-lows
Most banks look like this - not many have recovered in stock price since the 2008 crash
Friday afternoon, price closed at $2.01
- Pre-market this morning is opening at ~$0.83
Banks aren't doing great - what about the rest of the market?

S&P 500 / $SPY

There's no crash (yet) and no pump.
- Opening price today on the S&P shows us that the market is "stable" following news on the Credit Suisse rescue
We're still looking for price to follow support on Trendline "B"
- But price action is rapidly approaching confluence - price may break Trendline "B" and return to testing Trendline "A" as resistance
- However, considering that the RSI is making its way to oversold levels, we can probably expect a bounce off support and another move up in the next couple weeks - if the Fed
It's my opinion that the Fed will raise rates 25bps this Wednesday and markets should react indifferently to this move
- A 50bps rate hike will likely drag the market down.

Bitcoin / $BTC

Price is hitting a critical level between $28k-30k (a level that previously acted as support before price plunged to $17.6k)
I'm expecting to see a correction here at ~$28k - RSI is way overbought
- We could see a retest of $25k before bouncing back up
I am not yet convinced this is the start of a new "bull run"
- My thesis remains the same - that Bitcoin price will reach a local top between $30k-40k and move back down to retest $15k-20k before Christmas.
- After the shitshow that was 2020 / Covid Lockdowns, I'm more optimistic about 2024, giving the economy another year to correct.

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Money Monday: Reactionary Markets