Welcome to Closing Bell, I'm Mike Santoli in for Scott Wopner.

This make or break hour begins with stock steadying after a dramatic weekend of

forced bank mergers in Europe and Central Bank backstop measures globally, which all brings us to our talk of the

tape.

So can this calm be trusted?

Suspense is building for a Fed decision, a choice between staying the course on tightening or backing off for fear of more

financial upheaval.

Here to help us answer those questions is Cameron Dawson, CIO of New Edge Wealth.

Cameron, good to see you.

Thanks for coming down.

You know, the S&P 500 is down all of about 1%

since the day before Silicon Valley Bank really buckled.

It's up 3% from the low of early Monday morning last week.

Do we take that as a show of resilience here or of indecision

or that maybe the rescues are enough for now?

Well, I don't think all of the names in the S&P 500

are created equally because we have seen this resilience

in the overall index really being driven

by the safest of the tech names and so there is a

flight to quality we're seeing staples start to outperform a little bit health care

outperform so this isn't a full risk on move and we also see the number of names trading above their 200 day moving average

Fall rather precipitously is only now 40% which is actually lower than it was at those December lows which tells you some

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