Seems Powell waxed just dovish enough to get the algos bullish. The markets are now looking more confidently (right or wrong) to a potential slowdown in rate increases.
It’s a Fed-dependent market so that’s viewed as bullish for now.
INCY and RYAN triggered.
The view of lower rates is potentially bullish for Nasdaq. Tech lokes lower rates. (QQQ, TQQQ, TNA)
Nazzy +3.35% as I write.
Energy has a big week next week with the OPEC+ meeting and EU price caps so that sector is a sideline player today.
SPX is right at the HUGE 200-day moving average. A move above probably sets the CTAs/systemic buyers loose again.