To gain an edge, this is what you need to know now.
Powell’s Testimony
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
- Yesterday, we shared with you that investors were “buying the news” of Powell being hawkish on the first day of his congressional testimony.
- The chart shows that investors started the day optimistic and hoping that buying would continue during the second day of Powell’s testimony.
- The chart shows that investors’ hopes did not come true and there was a downdraft as Powell stayed hawkish.