I was looking for this past week to be bullish. And it was until late Thursday, and then, Powell spoke.
Let's take a look at the chart based on what the models see for the next 6 weeks, and unlike last weekend's chart, the numbers are more bearish. The highest numbers I can see are some 6.1s and 6.2s, very few, and really 6 is a neutral number.
For the next 5 days, there are no numbers in the sixes and Monday a bunch in the upper twos, so I consider further selling at least through the early part of the week. For the rest of the week, the models don't expect any improvement.
Of note is the 2.1 in the Commodities sector on day 22. That quite bearish, so expect changes in commodities in the next 3 to 4 weeks.
As usual, I will avoid the Bond sector, Metals & Miners and what just popped up is the Emerging Market sector, which last week was reported by me to be bullish, so that has changed.
Bottom line- for all sectors, the models have turned bearish for the next 6 weeks.