The event that Powell will be speaking at started at noon but he is not scheduled to speak till around 10:40. Equities have bounced but it is weak, which makes this consolidation look more like a lower degree fourth wave which implies a thrust down to a new swing low. SPX resist at 4127 and 4133. Targets for a new low are at 4070 and 4036. Over 4149 increases the chances of retested the current swing high or make a minor new high.
Comments
No posts