Hello Everyone,
Quick Notes: It was a down day today and a volatile one at that with the FOMC statement and Powell's afternoon testimony. The Fed acknowledged some of the inflation and other concerns and moved up its timeline for rate hikes, and the market had an initial strong reaction immediately following the FOMC statement. However Fed chairman Powell did his best to put lipstick on the pig, which caused the market to move off those initial reaction lows. That said the charts are a bit tired, and
weak seasonality may soon come into play, and it's Quad Witching on Friday. Best to be pull in the reins and be less aggressive with trades and risks you take.
have a great night,
Matt
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6/4: SPX Daily DVT = 4178. 2-day candlestick chart 4065, Weekly DVT = 3970
6/3: SPX Daily DVT = 4085 day candlestick chart 4065