Fwiw, I jumped in today around 30 mins before Powell's remarks, with fingers crossed. The chart was just too tempting. But it's a small position, and the stock allocation is only 2%, up from zero %. But should yield some beer money at least. Also, nice to see the metals finally have an up day. Silver especially has been a dog, though I did add a little during the recent selloff.
Powell's comments were less hawkish than many feared, and he basically ruled out any 3/4 point increases. Sounds like there should be 1/2 point hikes at each of the next Fed meetings (June and July), so not as dire as it could be. Reportedly he also said their initial goal for now is to see the inflation rate stop rising, rather than actually dropping, and this was interpreted as somewhat less hawkish.
So looks like we get a nice oversold rally. I figure the S+P 500 should get up to test the 50 MA (4374) anyway, and above that is the 200 MA (4491). The DJIA is already testing its 50 MA today. I'll probably take profits in 1/2 of my S+P 500 position at the 50 MA.
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