The path of least resistance could well be higher.
Either Powell is playing the game with his cards very close to his vest, or he really is not sure of the quality of his hand.
It's also time to raise stops as the social media giant sees an AI-aided advertising recovery boost its revenue.
The firm is going to keep competing in cloud services where they are still a distant third place competitor but are closing that gap.
The Fed still wrestles with the inflationary beast while the technology giant plugs a lot more money back into its business.
The noise from Microsoft's and Alphabet's earnings reports will die down when the Fed takes center stage.
The market is at an interesting juncture as the AI theme has been celebrated as a major economic shift.
Traders may want to reduce their exposure.
Are buyers willing to chase strong earnings, or is strength being sold? That will determine if a market top is forming.
Here's the best course of action.