The Powell chop - SPX500
Updated
Powell is speaking before the markets today, be wary of any hard sell off as it is likely a bear trap. Many bears still not believing the rally and a quick down and up should make mincemeat on both sides of the trade. I still expect a bit higher to 4100 area.
cnbc.com/2022/09/08/watch-fed-chair-jerome-powell-speak-live-in-qa-at-the-cato-institute.html
cnbc.com/2022/09/08/watch-fed-chair-jerome-powell-speak-live-in-qa-at-the-cato-institute.html
Comment
potential structure from top points to about 4020 as resistance/proit point (as of now) Comment
maybe it finds support here Comment
Found support, over 4k next, We'll see if it can get to 4100 probably next week. Comment
possible another trap and we go lower before more upside. like I said last week - choppy markets for the next few days. Comment
Hourly bear divergence on this chart warning of a pullback here. Comment
One more low today to test 3920 support and I think it rallies past 4k again into next week. Chop city - all technical. Comment
SPY looking like a cup and handle Comment
that may be it, hard to say. If the cup and handle plays out on spy the target is the neckline of the H+S, around 413. Will update at close. 
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