Technical Analysis
US500 have big potential to sell around 5614.6. This particular area have big resistance or rejection from the previous level higher time frame, it means lots of buyers took profit and sellers decided to involve in. Based on volume indicator the momentum for buyers is weakening.
Fundamental Analysis
Speaking at the Economic Club of Washington D.C., Powell referenced the idea that central bank policy works with “long and variable lags” to explain why the Fed wouldn’t wait for its target to be hit.
“The implication of that is that if you wait until inflation gets all the way down to 2%, you’ve probably waited too long, because the tightening that you’re doing, or the level of tightness that you have, is still having effects which will probably drive inflation below 2%,” Powell said.
Instead, the Fed is looking for “greater confidence” that inflation will return to the 2% level, Powell said. DISCLAIMER: The information on this analysis is based on research and experience, and it is not guaranteed to be accurate