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Powell Shifts But Does Not Admit He Was Wrong, Opportunity In AI Driven Semiconductor Chip Equipment Maker

Benzinga ·  Apr 17 11:19

To gain an edge, this is what you need to know today.

A New Opportunity In AI Ahead

Please click here for an enlarged chart ofSPDR S&P 500 ETF Trust(NYSE:SPY) which represents the benchmark stock market index S&P 500.

Note the following:

  • The chart shows that the stock market has pulled back after breaking below the trendline.
  • The chart shows the support zone.
  • The chart shows that in spite of the pullback, the stock market is still about 5% above the support zone.
  • Powell had repeatedly made it clear that he was itching to cut interest rates. This...
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