Results of Tuesday’s Best S&P Turning Points: Buying 4019.25 was cancelled during Powell’s testimony (stopped out).
Today’s Best S&P Turning Points (trades are cancelled during Powell’s testimony if volatility is high):
Buy 3976.00 stop 3971.75. Short 4012.75 stop 4018.50.
The World Sentiment Index: (+100/-100) DIPS from +14 to zero in a world of mixed sentiment and mostly low volatility. Historically it’s a coin toss which way price will close.
Catalysts: ADP Payrolls @ 8:15. International Trade @ 8:30. JOLTS & Powell Testifies @ 10:00. EIA Petroleum Status @ 10:30. Max interest of 6% is on the table. Recession more likely.
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