From a technical perspective, the S&P 500 (SPX) is showing a bearish outride reversal day, with confirmation if we settle below 4,445, states Bill Baruch, president of

For the Nasdaq (NDX), 13,700 is our level of bearish confirmation. James Bullard (St. Louis Fed President) has put 75 bps on the table, but this is expected.

The market is more concerned when Leal Brainard and Jerome Powell speak hawkishly. $105.60 was a huge resistance level for Crude Oil (CL=F), which we hit today. Gold (GC=F) is still working on regaining its footing, while Silver (SI=F) is attempting to hold its trendline at $24.45.

Learn more about Bill Baruch at Blue Line Futures.