Where’s That Rising Wedge
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S&P 500 predictably dumped on Powell‘s FOMC delivery, for many reasons I called for a such an outcome. Well into the power hour, bid did emerge, and it was a broad one, negating Powell explicitly mentioning inflation (more than) uncertainty through tariffs as the reason why the Fed can‘t cut. I pinned the moment sentiment reversed for you live on Twitter, and USD started surging again, and equities I already talked (check Russell 2000 and yields, what these did since). MSFT and META followed up on the logical path of GOOGL capex surprise and market reception thereof (talked premium, GOOGL ahead and its consequences, just as NDX early Monday to start coming back more than ES would)… just check the daily video.
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