....is this defining what comes next?
....yesterday, I indicated DXY being in an inflection point, it rebounded and that hit the gold trade
...and tonight, we have Powell speak from Jackson Hole, building permits, home sales. Market expects him to be dovish and point to a possible rate cut in Sept. Would Powell be as definitive in his speech? Market may be expecting too much, and even if he does, a 25bps is all baked in. No way he will commit to a 50bps cut.
SPY closes the day with a "BEARISH ENGULFING" candle
https://x.com/2kaykim/status/1826711715708371091
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