US500 drops to the monthly low amid hawkish Powell remarks

Fed chair, Powell, indicates that the current interest rate is already close to a restrictive one and announces that 2 reductions next year seem appropriate. This is a stark change from previous projections. The market reacts quite sharply and the US500 falls to its lowest level this year and tests the 6000 point area. At the same time, this is also the support associated with the upward trend line. It is worth remembering that after today's session we have a rollover, which will raise the price of the US500 by about 70 points.

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US500 drops to the monthly low amid hawkish Powell remarks

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