Technical Update (Bounce or Bottom?)

Technical Market Update – Bounce or Bottom?, U.S./China Trade Update (What’s Next and What Sectors Benefit), Futures are modestly lower as markets digest the recent rally following a quiet night of news. Today focus will remain on the Fed as we get multiple Fed speakers, highlighted by Fed Chair Powell (1:00 PM) and Vice Chair Clarida (5:30 PM) and more.

Technical Update: Ugly Breaks

Technical Update: ugly breaks, S&P futures are bouncing this morning but only modestly so relative to yesterday’s sizeable declines in U.S. markets which weighed broadly on global shares overnight (although the losses were not as bad as feared), Oil is notably down almost 3% as concerns have shifted from the supply side to demand side in recent weeks, there is only one economic report to watch: Housing Starts (E: 1.22M) but if it is a “whiff” like yesterday’s Housing Market Index was, which hit a multi-year low, it could keep growth concerns elevated and prevent a material relief rally and more.