FED: Notably Hawkish Opening Remarks from Powell

• Stocks have gradually recovered from early selling, the Nasdaq continues to outperform as Information Technology sector shares led gainers. Currently, the DJIA trades up 45.35 points (0.1%) at 46290.24, S&P E-Minis up 15.75 points (0.24%) at 6712, Nasdaq up 117 points (0.5%) at 22600.4.
• Software and semiconductor makers continued to buoy the tech sector in the second half: Western Digital +7.63%, Seagate Technology +3.78%, Micron Technology+3.72%, Lam Research +2.56% and NVIDIA +2.28%.
• Materials sector shares surged in the second half, leading gainers included: Freeport-McMoRan +5.31%, Air Products and Chemicals +1.96%, International Paper +1.24%, Amcor +1.18% and DuPont de Nemours +1.16%.
• Declining crude prices (WTI -2.55 at 63.17) continued to weigh on the Energy sector shares in late trade, leading decliners include: Devon Energy -4.11%, Targa Resources -3.97%, Diamondback Energy -3.36% and ConocoPhillips -3.33%.
• Meanwhile, the Consumer Staples sector shares decline accelerated in late trade: The Campbell's Company -3.37%, The Hershey Co -2.08%, Dollar Tree -1.83% and J M Smucker Co -1.74%.

• RES 4: 151.62 61.8% retracement of the Jan 10 - Apr 22 bear leg
• RES 3: 151.21 High Mar 28 
• RES 2: 150.92 High Aug 1 and a key resistance
• RES 1: 149.96 High Sep 26   
• PRICE: 148.61 @ 16:14 BST Sep 29
• SUP 1: 148.38/147.55 High Sep 22 / 50-day EMA 
• SUP 2: 146.77 Low Sep 18  
• SUP 3: 145.49 Low Sep 17 and a pivot support
• SUP 4: 144.23 Low Jul 7 

USDJPY traded higher last week  as the pair extended the recovery that started Sep 17. A bullish candle on Sep 17 - a hammer - provided an early reversal signal and remains valid. Also, MA studies remain in a bull-mode condition, highlighting a dominant uptrend. 149.14, the Sep 3 high, has been cleared. Sights are on 150.92, the Aug 1 high and key resistance. Pivot support is 145.49, Sep 17 low. Short-term weakness is considered corrective.       

• +30,000 SFRX5 95.93/96.00/96.06 put flys, cab ref 96.29