QE and ORCL fear | FXStreet

S&P 500 with Nasdaq surged on the FOMC rate cut (and easy money to the tune of $40bn in a month), breaking through 6,870… only to fail defending it overnight. The Asian session dip delivered the undershoot to 6,820s, something that‘s apt to happen with Powell conferences – and the path since is about to take ES back to 6,870 resistance, to make a fresh decision there – is the easing coming right on, or is it behind the curve given where job market and inflation are (forget about JOLTs, and look at unemployment with layoffs).