Hey, wait a second. Aren’t the spoiled-rotten nanny-state bulls supposed to be guaranteed an end-of-day ramp every trading day? This week isn’t off to a good start for those most special snowflakes.
The more we challenge this level, the more important it becomes. We SHOULD be repelled at this point. This SHOULD be the end of this counter-trend insanity. But now that Jerome Powell has pathetically, and treasonously, completely surrendered to everything more scary than a moth’s flutter, it’s hard to predict anything with certainty.