No surprises, but plenty of DANGER

Fed does the expected, but has no long-term answers ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ No surprises from the Fed, but the future remains unwritten. The central bank increased interest rates by a quarter-point. We're also seeing the first signs that it is preparing to retreat. "The Committee anticipates that some additional policy firming may be appropriate in order to attain a stance of monetary policy that is sufficiently restrictive to return inflation to 2 percent over time," said the Federal Reserve Open Market Committee. Eyes glazing over? Yeah, mine too. That's because there's nothing interesting in that statement... It's what WASN'T mentioned that is interesting. There was no mention of "ongoing increases" when it comes to interest rates. That's a pretty radical departure from what's come in the past. Now the Fed is still committed to a 2 percent inflation target. That seems wildly unrealistic given what's happening now. After all, it was just yesterday that the United Kingdom was shocked with new inflation figures that showed rate was over 10% annually. I expect the Bank of England will bring the hammer down today... And all that increases the chance that economic growth is going to be choked off entirely. As we head into an election year, you'll hear more and more charges from Democrats that Jerome Powell is sabotaging President Joe Biden's re-election effort. (Senator Elizabeth Warren has hardly been shy in her thoughts about Mr. Powell). I see all this as an indication that the Fed really is concerned about the prospects for economic growth. That's good news for investors who need the Fed to take the boot off our neck... But the question now is if it is already too late. Keep Moving, Corey Snyder Publisher, Rogue Investing The banking system as we know it is in danger of collapsing — The stage is set for a meltdown capable of making the $2 TRILLION lost in 2008 look like pennies. The first stage of financial Armageddon is unfolding in front of us… And if you don’t want to be one of the millions of Americans crushed in the fallout… You need to act immediately. [Click this link right now to discover your next steps.]( ) COACH'S CORNER "Wednesday was one of the wildest days I’ve seen in years." "Gap up at the open with a slow fade into chop as the market got ready for Powell’s announcement. Then all hell broke loose, and the landslide happened." "Unless you have at least a decade of trading experience, you’ve not seen a market like this. And there’s likely more to come." "We ended profitably in the Trade Command room, hitting our daily goals as usual. The key today was the alignment of signals across multiple time frames. After some quick early profits, we took a few losses and made some nice gains off the afternoon cliff dive." "I can’t stress enough that you must trade the signals, not your opinions. It’s the only thing that keeps you from getting wiped out." "Though I stay in the market year-round, many just sit this month out. Profits are still available, but you have to work harder to get them." "That could mean waiting all day for the perfect setup, even if it never comes. It’s far better to avoid losing than play in a risky environment." "Look at the SPX daily chart above:" "Given the situation, I have a bearish outlook for the next few days." "The grey band implies a likelihood of lower prices to come, as does the orange candle. Also, the red bearish order block overhead suggests the path of least resistance is down." "We’re likely to retest support at $3800 over the next several days." "Don’t assume there’s a reversal coming. Instead, check the SPX futures (/ES) and pay close attention to your indicators." "Above all, trade conservatively." Cheers, Chris Hood WORD ON THE STREET Yellen - No Blanket Protection For Deposits - Treasury Secretary Rules Out Expanding FDIC For Now - Secretary of the Treasury Janet Yellen said her department is not currently studying ways to expand FDIC coverage to all deposits. "This is not something we have looked at, it's not something we're considering," she said. However, she said it's something "we can debate in the days ahead." Some (including Elon Musk) have suggested the FDIC cover all deposits in midsize regional banks. - Starbucks Strike - Workers at about 100 Starbucks locations are reportedly on strike over alleged anti-union practices. The Starbucks Workers United union has succeeded at about 290 locations, but it alleges the company is stonewalling the union when it comes to negotiations. No wonder Howard Schultz wanted out - Powell Warns Of Economic Slowdown - "Financial conditions seem to have tightened, and probably more than the traditional indexes say," warned Federal Reserve Chairman Jerome Powell. "We'll be looking to see how serious is this and does it look like it's going to be sustained. And if it is, it could easily have a significant macroeconomic effect, and we would factor that into our policy decisions." - GameStop Gains Another 35% - GME was up more than 35% during the trading day, building on its recent rally after posting a surprise profit. The stock is now up almost 39% Year-To-Date. HOT SPOTS: What's Going on in Geopolitics - No Trump Indictment - Contrary to reports, a Manhattan DA has not moved to indict former president Donald Trump, the current GOP frontrunner for the nomination. However, rumors are swirling that an indictment is still in motion - with some suggesting the step could be taken as soon as today. - Prince William Visits Poland – Prince William visited British troops in Poland who are training Ukrainian forces and NATO allies against a potential Russian invasion. "Everyone back home thoroughly supports you," he told them. - China Claims US Warship Illegally Entered South China Sea - China claims it monitored and drove away an American destroyer that entered waters near the Paracel Islands in the South China Sea. The military claims the American destroyer the Milius was at fault for the confrontation. CUTTING EDGE: What[']( )s Happening In Tech - Bitcoin Drops By 3% - Federal Reserve Chairman Jerome Powell said it would be unlikely that the Federal Reserve cuts its benchmark interest rate this year, leading to a suddenly decline in BTC's price. Bitcoin was down about 3% yesterday, dropping well below $28,000. - Alibaba Gets Legal Reprieve – Alibaba will still need to face claims that it defrauded shareholders, but Jack Ma's former company won an important legal concession. The Chinese e-commerce giant will no longer need to face charges surrounding a failed IPO. Jack Ma himself was also spared from personally having to face any lawsuits. - Coinbase Bombs On SEC Notice - Well, it finally happened. The SEC has sent Coinbase a notice that it identified potential violations of American securities law. "The potential civil action may seek injunctive relief, disgorgement, and civil penalties," said Coinbase. COIN was down more than 8% during the trading day and almost 16% in after-hours trading. The SEC has long been preparing a crackdown on crypto FOR YOUR CONSIDERATION --------------------------------------------------------------- "If a stock could be described as "The Norman Rockwell painting" of the market – it’s this one." "*record scratch*" "Just kidding." GameStop (GME) posted a surprise quarterly profit... and it's been on a tear. But what should traders be looking for if they want to jump in. Corey breaks down the technical signals on the original meme stock. [THIS HAS ME FEELING NOSTALGIC...]( ) P.S. Some powerful research indicates that a Second Silicon Valley Bust is underway. It's time to take a look beyond the headlines - [find out what's really happening with the Silicon Shakeout by clicking here.]( ) Enjoying Dawn Report? Learn something, made some money? SHARE YOUR STORY WITH US OR TELL US HOW TO SERVE YOU BETTER. Let us know at info@rogueinvesting.com You’re receiving this email because you're signed up for alerts from Dawn Report. Make sure to keep them coming by [whitelisting Rogue Investing]( ). The information in this email is intended for informational purposes only and does not guarantee specific results as there is a high degree of risk involved with trading. 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