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Fed day came and went! Assets across the board lifted off, mostly due to Jerome Powell's " No 75 Basis Point Rate Hike in June" rhetoric. Coming into the meeting, investor sentiment was overly hawkish. The Fed is guiding the ship nicely, announcing they will let the balance sheet run off in June with Quantitative Tightening.

The S&P ($SPY for our ETF traders) ripped through resistance 4270-4283 (gap from last week). 4303 is the next level that must be closed above to continue this run. The Nasdaq vs. Consumer Staples ($QQQ vs $XLP) showed an early sign of a bottom earlier in the week that we bounced off of today. Is 14,000 next?

Check out our Daily Morning Express Research for Support & Resistance Levels!

Crude Oil is back to $108, but must follow through tomorrow as well.

Gold and Silver also came off of their lows, but we are not out of the woods yet.

Tomorrow is a very important confirmation day, as China comes off of holiday, and OPEC+ is still in the mix.

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