The hawkish comments of Mr Powell sent the bond market into a tailspin although the stock market held pretty well as sector’s rotation continued favoring energy and financials. Breadth settled slightly negative: 1758 stocks closed up compared to 2588 that closed down. Options traders were still eager to buy calls as measured by put/call ratios. Various indexes are hovering around their resistance (200 days moving average) although there is still some upside potential for the Nasdaq.