Possibly, as a number of Big Blue's technical signals are bullish.
Let's see how traders could react to the latest news.
The day's initial focus was on the Alibaba entrepreneur's extended stay in Japan before word broke that China's former president has died at 96.
The market has sold off significantly the last three times that Powell has spoken. Are expectations lower this time?
This FOMC may be slow to recognize that a pivot, not a pause, will be required within six months in order to best preserve the economy.
Whether it's the Fed, inflation numbers or jobs numbers, with this market, it's always something.
Tuesday's action is simply a setup for a reaction to the economic and Fed news that will occur Wednesday.
I don't see a bullish alignment on the charts.
Let's see what the indicators say.
We've got three big events that could together move the markets. Here's the one I'm watching the most closely.