Banks are getting hit hard and nobody's talking about it — that's your Wednesday setup.

Banks are getting hit hard and nobody's talking about it — that's your Wednesday setup.

JPM down 3.42%, sitting at 340. That's not a dip — that's a statement. BAC right behind it, down 3.04% to 56.20. Financials are bleeding and the session hasn't even opened.

WMT up 2.49% to 110.12. Defensive money moving fast. Intel up 1.71% to 123.86 — quiet strength in semis. AMD up 1.34% to 623.77. Intel and AMD both green while banks crater — rotation is loud this morning.

NFLX down 1.64% to 72.16. Streaming still can't find a floor. AMZN down 1.34% to 254.98 — consumer discretionary softening. CRM down 1.33% to 233.28. Enterprise software dragging.

UNH down 1.22% to 372.95. Healthcare getting clipped alongside banks — this isn't just a financial sector story, the defensives are starting to wobble too. GOOGL down 1.07% to 351.16. Ad revenue names under pressure.

Futures: SPY flat at minus 0.02%. QQQ up 0.81% — tech holding. IWM up 0.57%. DIA down 0.34%, which makes sense with JPM and BAC in freefall. VIX at 14.31 — complacent. Gold off 0.88% — risk-off narrative isn't fully committed.

Asian markets unavailable overnight. No macro data on the calendar today. The tape is trading itself.

Earnings: AFB, BTOC, and JOCM report today — no estimates circulating. BXMT before the open, EPS estimate 0.27. Watch it against that financial sector weakness — timing is terrible. DRI before the open, estimate 2.08. Darden's a consumer read in this environment. COST reports after the close, estimate 6.66 — that one matters. Walmart green today, Costco reporting tonight. Retail is the story.

No crypto. No noise.

Numbers don't lie. People do. Trade accordingly.