Its time for a press release from Print Central, which should detail rate hike five of +75bps, to 3.00-3.25%. Powell is due 2.30pm
sp’60min
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Best guess… regardless of the initial reaction (which the bulls should arguably hope is down!)… I’m looking for some hours of upside. A break >3900 would offer a run to psy’4K… even green zone… as viable tomorrow.
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I’ll post an update in THIS post at 2.15pm
… as expected.
Initial reaction… down.
Typically… that is often better for the bulls.
US 10yr prints 3.62%.
USD is jumping.
Initial washout… with VIX printing 30s.
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2.20pm… USD prints 111.36… a new TWENTY year high.
VIX has cooled back to the 27s… which should be a concern to the equity bears. Powell… is due.
GBPUSD…. the 1.12s !
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2.32pm… SPX -16pts… and it won’t take much to turn positive, and see a short-stop cascade upward.
2.34pm…. indexes turning positive… with VIX 26s.
The 2pm candle is offering a hyper spike floor from 3819. A daily close >3900 would be decisive, and offer 1-2 days of upside.
To yours truly… this is rather pleasing. Back in a new 3pm post.