From a Financial Stability Standpoint

Review of Powell news conference today.

These were the words that Chairman Powell used to explain the risks facing Americans.

“From a financial stability standpoint we have already seen asset values drop a lot so the chances that they will drop from here are lessened”

Here are my comments on twitter following Powell’s news conference.

“It would appear that comments we made six days ago are continuing to evolve.

On Jul 21 2022 Midpoint between first S&P objective of Fibonacci 4375 and 3920 base is 4147. That is where short covering is going to take us for now.

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