US indices under selling pressure📉

US indices react with declines to Powell's decisive short speech in Jackson Hole:

• Fed won't make a mistake and allow itself to pause too soon in the monetary tightening cycle 
• Rising inflation expectations negatively impact
• Fed tightening Powell open to 75bp hike depending on overall labor market data from JulyThe US500 chart, D1 interval. The downward reaction of the US500 index indicates that the summer optimism was a relief rally rather than a change in the downward trend. The 200-session moving average is now a strong resistance for the demand side, from which the bulls have bounced. At the same time, it is worth watching the further reactions of the indices because the period immediately after Powell's statements was characterized by frenzied volatility. Source: xStation5