And maybe something even more important, China.
Today I will be watching for indications that Powell has learned something over the past two years, not what he is going to do, but how his thought processes have changed.
The Ukranian Wedge…
In the meantime, this morning the market has broken out to the upside from the Ukranian Wedge. This is a very positive sign, now we will be getting closer to placing more aggressive long side trades. A close above SPX 4373 or three days above the Ukrainian Wedge trend line will be the indicators that we will be watching. We will let you know how we handle this situation.
And the China Breakout…
China Breakout? The China ETF MCHI is what I watch. Today we see a breakout to the upside that leaves a massive two day island. If this holds today, it will be more important than anything Powell says.