Powell's 9 Words Shift the Narrative on Wall Street

JST may experience a short-term correction as the RSI 14 is in overbought territory at 80.81. Powell's statements could negatively impact risk appetite, potentially creating selling pressure on cryptocurrencies. Although the MACD remains bullish, overbought conditions and uncertainty stemming from the news increase the likelihood of a pullback to the 0.085 level. Therefore, a bearish move is expected in the short term.

While Powell's statements are significant enough to alter the market narrative, the RSI approaching 70 indicates overbought territory, which could limit upward movement in the short term. The MACD is trading just below the signal line, suggesting weakening momentum. The price is in a positive trend above the 20- and 50-day moving averages, but profit-taking may follow the 1.78% rise over the past 24 hours. The optimism generated by the news may be constrained by technical resistances and overbought signals.

NDX has recorded a strong rally of over 4% in the last 24 hours, with its RSI entering overbought territory at 78.8. While Powell's remarks have boosted short-term optimism, technically overbought conditions and elevated MACD levels introduce a correction risk. Therefore, while the upward momentum may persist, the possibility of a sideways trend or a slight pullback in the short term should not be overlooked.

The DXY is trading just below its 20- and 50-day moving averages, with the RSI at 46, indicating a neutral zone. The MACD is near zero and almost crossing the signal line, suggesting weak momentum. Powell's comments could create short-term volatility, but the current technical structure does not provide enough signals to determine a clear direction. Therefore, the short-term impact is considered neutral.