However, many charts are reacting bullishly to yesterday's comments by Powell. It may be time for a "risk-on" rally and some low-risk trades might be available.
Here, energy stocks are showing a slight break from a descending .
The and are showing divergence during the drawdown. XLE and Oil are both oversold.
The is just starting to rise.
I would consider buying a small GUSH (3x) position on an intraday pullback, targetting the 50ma.
XLE went down to backtest the wedge nearly perfectly. With Oil so oversold, any shadow of "news" out of G20 can spark a rally.
Gold miners also being bought up intraday, suggesting a short term dollar top could be imminent. Although I am long some miners, it has been a terrible trading there so I don't want to talk about it much.