E-Wave for the S&P 500 Index

[gdl]

No matter where we are in cycle this is stretched way too much. Bitcoin breaking down. Expect SPX to follow with a decent drop here. Maybe 150 - 200 points?
Inflation must be transitory or else this market would FREAK OUT!

Street accepted the FED pause, but think they are scaring the street with fake announcements of more rate hikes possible this year. Interesting the street hears what it wants and reinterprets what it doesn't. The FED (KNOWS) something since not a single member dissented on their call for NO RATE CUTS IN 2023. Why are they also calling for TWO MORE rate HIKES this year as possible?