To The Moon

Powell has shown the path! FOMC aftermath!

- Market priced in 0.25; Powell delivered!

- Market pricing in 4 rate cuts this year; Powell declined!! 

- MA5/MA20 was due to cross but the outcome has now shown quite clearly the way forth

- Broken down below MA20/MA5; Found temporary support at 392; 

- Likely to break further down; Support is at 388 and 385 then 380. 

Key significance

- A failed attempt to cross MA5/MA20 and coupled with a clear MA20 rejection could spell another leg down

- Thursday 23 Mar, if MA20 rejects, and MA5 do not hold, I will be prepared for another leg down, possibly to 388/385/380 and quite extreme case 373. 

- My take is 385/386 is quite a stronghold and I will not go super bearish until that breaks

Watch for dead cat bounce tonight and then another dump!

Powell really "powered" the market last night!

@TigerStars  @CaptainTiger  @Deposit  @LMSunshine  @melson  

$SPY(SPY)$