
POWELL RALLY VANISHES, QUALCOMM HEIGHTENS APPLE CONCERN, MOTHER OF ALL REPORTS AHEAD
By Nigam Arora & Dr. Natasha Arora To gain an edge, this is what you need to know today. Key Events Ahead 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: The chart shows the steep rally that started on Powell’s press conference. In yesterday’s Morning Capsule we wrote: If political Powell shows up, expect a rip roaring rally. Three groups of investors were buying. Investors driven by macro bought on the belief that Powell gave an all clear signal for buying stocks. Investors who follow traditional