Hey tradomaniacs,
SPX500 just pumped up towards a major resistance-area where a lot of bearish confluence is possible.
Generally I must say that the recent pump caused by Jerome Powell seems to be SUS as his entire speech was pretty hawkish.
I also think he doesnt really want stocks to move up as it would not ease financial conditions and boost inflation.
However, technically a good spot to watch! Either for shorts or a break to the upside!
What do you think?
SPX500 just pumped up towards a major resistance-area where a lot of bearish confluence is possible.
Generally I must say that the recent pump caused by Jerome Powell seems to be SUS as his entire speech was pretty hawkish.
I also think he doesnt really want stocks to move up as it would not ease financial conditions and boost inflation.
However, technically a good spot to watch! Either for shorts or a break to the upside!
What do you think?