Looking for down day tomorrow imo…

My guess is despite overwhelming evidence of #stagflation, #Powell will push back against this reality later today. He will likely reassure markets that the U.S. economy remains strong, #inflation is still forecast to fall to 2% over time, and that rate cuts remain appropriate.

Based on the numerous sell signals & trend indicator changes (bullish to bearish) that I’ve posted over the last few weeks, QQQ & IWM (and the other sector ETFs and individual stocks I’ve highlighted) remain active swing shorts with more downside to the next targets.

As such, one can short or re-short (if covering the dips to support/targets) on bounces back into resistance. Of course, we still have both the potential market-moving FOMC announcement as well as AAPL earnings this week so only aggressive traders might want to be fully short until those are out of the way. TLT indirect hedge another way to potentially mitigate give-backs on equity shorts if/when the market bounces.