To gain an edge, this is what you need to know now.
Dovish Powell
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark for the stock market index (SPX).
Note the following:
- In the Morning Capsule, we shared with you that there was buying in stocks on Biden wanting to spend more and not addressing the demand side.
- Bulls got further encouragement from Powell being dovish in his testimony before Congress.
- Powell favors only a 25 basis point interest rate increase in March.
- The chart shows aggressive buying on a dovish Powell.