The Powell Pause

The stock market went crazy today as surprising retail numbers helped boost discretionary stocks & traders reacted to the Fed minutes. Despite the gap down in the morning, stocks quickly recovered and investors interpreted the minutes as hawkish but with a little sign of the hope. The positivity from the minutes was the clue towards what could make Jerome Powell pause this aggressive rate hiking cycle. I go over the minutes and a brief market recap and highlight the next steps for the market from here and the impact of data. Although the Fed still thinks asset valuations are still elevated, it seems as if "data dependent" may make a strong come back. After this brief recap, I go over my portfolio and trades for the day. Given the recent volatility, the only main trade I made today was a SQQQ just in case we are witnessing another vicious bear market rally. EITHER WAY ITS GOING TO BE EXCITING, SO I HOPE YOU ARE READY! POST YOUR WATCHLIST BELOW AND SEE YOU IN THE MORNING!

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