Powell's Testimony Sends Markets Tumbling

Today's Watchlist: SPY, SH, OXY, SARK [Image](   [ARCHIVES]( [REPLAYS]( [WATCH LIVE]( [Twitter]( [Youtube]( [Instagram]( [Tiktok]( [Discord]( [LinkedIn]( Bloomberg says you need AT LEAST $3 million to retire… I think I’m on track to double that. [See how I’m doing it here](.   March 06, 2023 Dear Reader Good Afternoon, Yesterday we talked about [how Mr. Greenspan gave a speech in 2000]( assuring investors evERyThINg iS gOIng TO be fINE, Invest in tech. Similarly, in March of 2001, Abby Cohen, CIS at Goldman Sachs, said, "we don't expect a recession and believe that corporate profits are likely to grow at close to trend growth rates later this year." However, the recession had already begun. Sound familiar? I continue to [pound my desk]( telling anyone that will listen that we are facing a recession in the productive parts of our economy. Today, Powell discussed interest rates with the Senate. He began by explaining that rates are likely to increase due to stronger-than-expected economic data. Powell mentioned that if the data indicates that faster tightening is necessary, the pace of rate hikes will be increased. As a result, the probability of a 50-point hike has risen from 30% to 67%, causing the S&P500 to fall. Powell will speak before Congress over the next two days, explaining how interest rates and inflation work and how Congress's spending impacts the economy. There were some questions about climate change, but that is not part of Powell's mandate. The focus for the Fed is on price stability and unemployment. Regarding trading right now, we are focused on the war in Ukraine, as [there are critical trends currently in play]( with momentum turning to the downside. We receive the February jobs report on Friday. Then, the CPI and PPI data - which measure inflation in the economy - arrive next week, followed by the Fed's next FOMC meeting. So let's continue to be cautious while the dust settles for this market. Talk Soon, Garrett {NAME} Did you miss the show? No worries, we’ve got you covered.   [America’s #1 Shell Game - Exposed]( A new bill by Joe Biden has evolved into one massive shell game that’s got all of America fooled – well, almost all of America. Shah Gilani is here to show you what this so-called “public reform” really means. [Hear what he’s got to say.]( REPORTS   [Welcome to Momentum]( [Trading Momentum]( [Trading Fundamentals]( [Trading the Fed]( [Trading Insiders]( WATCH REPLAYS   [America’s]( Now on Sale]( America’s #1 Pattern Trader, Tom Gentile, is tracking three economic catalysts that just merged – creating a 10X trading opportunity. Investors have paid thousands for this intel… But you can get started with nearly six times LESS. But soon – this Darknet offer will end, removing today’s [95% off entry rate.]( [Watch the Show!]( [Sneak A Peek Inside Flashpoint Trader](       You are receiving this e-mail at {EMAIL}, as part of your subscription to Midday Momentum. To remove your email from this list: [unsubscribe here]( Please do not reply to this email as this address is not monitored. To cancel, or for any other questions or requests, please contact our Customer Service team: Online: [Customer Service Form]( Phone: 888-384-8339 (North America) 443-353-4519 (International) Mail: Midday Momentum | Attn: Member Services | 1125 N Charles Street | Baltimore, MD 21201 Fax: 410-622-3050 Our Customer Service team is available Monday ­ Friday between 9:00 AM and 5:00 PM ET. © 2023 Money Map Press. All Rights Reserved. Nothing in this email should be considered personalized financial advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized financial advice. We expressly forbid our writers from having a financial interest in any security recommended to our readers. All of our employees and agents must wait 24 hours after on-line publication or 72 hours after the mailing of printed-only publication prior to following an initial recommendation. Any investments recommended in this letter should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company. Protected by copyright laws of the United States and international treaties. This Newsletter may only be used pursuant to the subscription agreement and any reproduction, copying, or redistribution (electronic or otherwise, including on the world wide web), in whole or in part, is strictly prohibited without the express written permission of: Money Map Press. 1125 N Charles Street, Baltimore, MD 21201. [Website]( | [Privacy Policy]( | [Terms & Conditions](