Morning Ideas May 21, 2020

Be careful with the short side, Powell speaking today. 65 becomes pretty big as value area high has moved up a bit and we've traded quite a bit up there.

I'd want to see the market rejecting high 60's should we get there.

My educated guess is that we will stay in this area until Powell pushes us out. I'd prefer the long side here as that's the way value is migrating.