Christmas is almost upon us, which means that every time a Fed governor mentions the Fed's "tools," an angel gets its wings. (This is, in fact, the reason why the quality of flying angels has fallen off so severely in recent years. The Fed has overused the word "tools" to the point that, by necessity, they're now handing out wings to anyone who's not visibly wielding a pitchfork.)
Chart-wise, SPX briefly broke its key lines, but recovered both quickly:
A wider view:
In conclusion, bulls can still recover it here and head to new highs -- but in the event SPX sustains trade below the recent low at 6720, then we'd watch the lower red trendline on the second chart while keeping the complex expanded flat from the first chart very much in mind. Trade safe.
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