I think what was most important.
3) When the first move sold off to negative that was a BAD SIGN.
4) Thought Powell would stay tough.
I just didn't see any evidence that inflation was cooling or that Powell was going to change his hard line at this point.
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Why I didn't get faked out today and go long the s&p?
1) The System was in sell mode.
2) I have enough experience to know that the first move higher can always be sold off.
3) When the first move sold off to negative that was a BAD SIGN.
4) Thought Powell would stay tough.