Jerome Powell is Lost... (Risk Recap)

I don't even know where to start with this testimony today... but let's try

Dear Reader:

A quick update on the state of the market…

First, the chop has continued.

The selling pressure on the Russell 2000 hasn’t stopped.

Higher Beta stocks in our “Breakout versus Falling” statistics (+/-5% weekly/up-down monthly/Beta 1-2) take us at a rate of 93 against 130 for the Russell 2000.

That’s the poor man’s reading, not adjusted on coefficients or technicals.

That’s just price, showing higher outflows under the surface.

On the S&P 500, it’s 23 to 25. So, I am still quite cautious. It’s a good day for Phillips 66 (PSX) and Old Dominion (ODFL). I love ODFL, but I do no know how tariffs and trade will treat this company. It just popped up on the screener.

Now… let’s get to the fireworks.

Jerome Powell is Lost

It was another riveting performance from our favorite central banker.

This guy could put a cocaine addict to sleep.

Jay Powell went before Congress again today and used many words to tell us absolutely nothing.

"With our policy stance now significantly less restrictive tha…