Jerome Powell And 15m 12 EMA Bear Control SPY & QQQ After breaking 12 EMA 15min time frame yesterday bears have been suing it for full control underneath it.
- at this price point SPY retraced over 60% QQQ retraced 50%. Burden is on the bulls to step up here. Bear still comfortable
- if QQQ start dropping more than 50% retracement everything will start favoring the bears
- Jerome Powell spoke today and now market is pricing in 71% chance of a 0.5% bps hike. he is speaking again tomorrow mornings 7am
- Very key area for battle between bulls and bears now.
