Although the stock market closed almost unchanged, intrady volatility was high. The S&P 500 traveled 68 points during the trading session, a nice journey. The S&P 500 tried for the fifth time in 11 days again to surpass the 2930-2940 resistance without success before falling back again to the lows 2900. This morning, the futures are again attempting to break this level before the much awaited speech of Mr Powell. The technical pattern, the market is drawing, looks like an ascending triangle, a bullish configuration with higher lows set up at each selloff. Let’s expect again some volatility today.