Before the Powell bromides and pandering reassurances begins, here are a few important ETFs and some words captioned in each:

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Long-term, commodities look ready to turn lower (note recent horizontal resistance).

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The “diamonds” broke their intermediate-term trendline; as long as it doesn’t push above its horizontal, this is bearishly configured.

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The European MSCI shares have likewise broken their intermediate trendline anchored to March 23.

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Brazil shares are getting very close to major resistance where the price gap is located.

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Home construction is still uptrending smoothly.

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As bad a shape as retail seems to be in, the retail ETF has shattered its descending trendline.

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Probably the most bearish of all of these charts is this one, which has an exceptionally-clean horizontal that has been tested before