The last time the FED met Jerome Powell's comments sent a blow to the U.S. equity markets leading to a multi-week sell off.
To be honest, it wasn't a fun ride. However, his comments today didn't really shake the market as the higher for longer rate narrative was only digested and he mainly pushed a wait and see approach with some words that rates may not need to go higher, but will if deemed necessary.
That is about as dovish as he has been this year so the markets reacted well.
As you can see looking at the daily chart above we saw some nice follow through on this week's bounce with a solid green energy candle on slightly higher volume.
Now, the market was also due for a little relief bounce so we shall see if there is anything more to this move.
Atleast we still went higher today though, cus getting smacked down by FED comments again would not have been fun.
I'm definitely gonna put on a short hedge as I have too much long only exposure to this market.
