$SPX - Powell will have a great impact on the market's fate tomorrow. If he's hawkish and the market closes below 5512, it would drop to at least 5400 and possibly to as low as 5340 by Monday. If he's dovish the market would extend the bounce to at least the 200 day MA. https://x.com/CyclesFan/status/1902091276973211714
...what if he is uncommitted on rates but sounding dovish on the economy? Would that be interpreted as a possible stagflationary concern? i.e can't reduce nor commit on rate reduction with prospect of higher inflation ahead but acknowledging a softening economy. That might not go down well as recession fears are mounting.
