🫣 Will Powell send S&P further down?

Fed Meeting this afternoon

The S&P is still on the brink of a bigger correction, having consolidated -9% already from previous ATH of 6147 points. Today will be an important event with Fed Boss Powell talking after their meeting about the future interest policy.

Expectations and possible reactions

Nobody expects any rate adjustments today BUT the market would react on any concrete outlook. If we get the notice, that rate cuts have become more likely, I am sure we could call the correction done. If we hear a more hawkish Powell though, well then we will probably see even more downside at Wall Street. Another -5% is possible.

My Watchlist

I have my limit orders placed in case tech corrects further. Apple and Microsoft are both down rougly 20% and are my first picks within tech sector. Walmart is also something I have an eye on currenrly, as I stated here.

What do you expect today after the Fed Meeting?

Fed Watch