As Powell continues, US equities are rather twitchy. SPX has a provisional floor from 4337, with VIX already have turned red.
sp’60min
VIX’60min
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So… no rate hike, but one appears due July 26th.
The bond market merits attention…
TNX, daily
A break >4.10% will merit alarm bells, and should broadly break the equity market. For now… we’ve still a fair way to go, and its partly why I’m extremely cautious.
Regardless of the exact close… I remain content to watch, as the s/t setup just isn’t good enough.
*I’d accept I could have shorted this morning, and exited for a clear 40pt swing.
I need to get outside, before I start hitting the remove follower button…