Good morning STB!
Man there’s a lot of stuff going on.
Good v evil
On to the lie -
Minis off 10. Powell actually did well yesterday. The mixed bag approach might have been sincere. My UST10yr weekly chart is at the floor of a consolidation wedge near 3.85 with four supports here saying it should hold and return to 4.6%. Here’s the deal, the Fed can’t really fight unemployment anymore with AI destroying jobs, but it can fight inflation. Bottom line is we need the bubble to burst and a reset. The liquidity problem was finally mentioned briefly by Powell. We got a double bubble, tech and banks wrapped up in one package.
Have a good day.
GL and GB!
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