Powell’s testimony to the House today should be informative, but it usually isn’t. By now he’s learned that it just doesn’t pay to be honest and forthright about what’s happening in the economy (e.g. “inflation isn’t a problem.”) Wouldn’t it be nice if someone called him on it, asking him how exactly spiraling inflation is supposed to help all the little people he claims to be so concerned about?
Nevertheless, the algos are prepped for a stick save should one be needed in the wake of reckless truthiness, with VIX predictably back below its SMA10 and positioned for a breakdown.
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