RE:$46.38I think $46.78 is the magic number at the moment, but as long as it closes above $46.29, it will be bullish.
RIght now, the FED has got the market bullish, and well it should be.
If I were buying right now, I would be buying the Beaten Down stocks like BCE instead of the more lofty ones trading at or near 52 week highs.
BCE is trading near 10 year lows when monetary easing is on the horizon and 3 rate cuts expected this year.
Powell just looking for data to show that Inflation is moving towards 2%. He's not waitng for Inflation to actually be at 2% before he begins cutting rates.
I believe that after listening to his speech, he will give the markets a more specific decision on when rates start to get cut, sometime in his May meeting.