Magic Powell liquidity strikes

S&P 500 continued on Friday‘s hesitant tone, and slid on Powell throwing cold water on excessive and fast cuts expectations – granting us great entry precisely at the daily lows. Are bulls though clearly favored here? I see some hesitation and outright worrying (and ignored) AI signs that weren‘t exactly reflected in SMH, SOXL etc. So, one has to be cautiously bullish only, until proven otherwise (a matter of individual trade management). I would be cautious about piling into Bitcoin as well – doesn‘t look ready to take on $66,000 by Thursday.

The below two charts show clearly why is that, what‘s lining up as a result of not dovish Powell speech – and the same applies to the developing gold and silver correction that I‘ve cautioned clients about in the latter half of prior week. As these will further read, there is a distinct difference between oil and copper prospects (yes, China is on holidays) – and the same goes for natgas and uranium talked for around a week already.