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Friday, we saw a lot of back-and-forth action in the markets following Powell’s speech. While the market initially popped, it quickly dropped before bouncing back up and closing with a green candle by the end of the day.
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So the big event has come and gone. Powell spoke and markets popped. But then they dropped. As I write this, it looks like they’re bouncing again, just a hair above today’s open.
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The market rallied yesterday, putting us above the key 0.618 Fibonacci retracement level. But here’s the thing. Today’s price action is going to be critical in determining if we keep going.
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With the markets moving like they have been, there’s a lot to unpack. Today I’m sharing key numbers and levels to watch, so let’s get to it!
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Economic news has been slow this week. Next week’s massive influx of potentially market-moving news could finally help the market pick a direction.
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Earlier this week, I talked about the opportunities the recent market drop might present. Today, I want to dive deeper into what I’m seeing in the markets right now — especially the key levels to watch closely.
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