Bank stocks are still floundering after they took a major hit in March of this year, coinciding with the failures of Silicon Valley Bank, First Republic Bank, and Signature Bank.

KRE, a regional banking ETF, is down 27 percent year-to-date, while KBE, an ETF with large banks, is down 16 percent year-to-date. Quarterly earnings will be reported by JPMorgan Chase, Wells Fargo, and Citigroup tomorrow, and a few other big reports are due early next week.

This past weekend, the world witnessed absolute barbarism play out as Hamas agents brutally targeted Israeli civilians. The State of Israel, suffering from a historic failure to protect its residents, has predictably responded with major military operations in the Gaza strip. The result is a growing regional conflict fueled by historic feuds beyond the scale of traditional geopolitical considerations.