Two weeks ago we heard from the large banks. A generation ago, we would buy or sell the S&P 500 on what they had to say, but not anymore. Traders aren’t involved with their stocks now the way they once were and long-term investors in bank stocks have begun to regard them as regulated utilities. And regulated utilities rarely engender the kind of passion necessary to make bulls turn bears or vice versa.
-- Joshua M Brown, The Reformed Broker