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|Powell's testimony must have started.
|Flat open and then a long red candle. This was when Powell started speaking. "Solos" are not that daunting. That is just a knee jerk reaction and I don't know what he could have said in the first few minutes...
|What would have been more concerning is 3-4 consecutively stacked red candles. Those are a sign of something material and that happens when there is sustained selling. I am expecting a bounce and more choppy price action. 1OP bullish cross...
|He said that rates will be higher than anticipated and the hikes may need to be accelerated from here - which raised the odds of a 50 bps in the next meeting to 80% - they were definitely more Hawkish...
|Yes, from 25 - 50 basis points is material.