So you crashed the economy on purpose?    We'll hear from Chairman Powell at 10am this morning as he testifies to Congress and, since last time he spoke (Wednesday afternoon) the markets collapsed, a lot of people are selling off in anticipation of another horrible scenario.   The reasoning doesn't matter too much, what we have is a very clear scenario where we hit our predicted Weak Bounce Line on the nose (S&P 3,780) and we're being harshly rejected there.  That's a weak market signal that indicates we will be re-testing the Strong Retrace Line (3,680) and, if we fail that – we'll be looking at 3,520 as our next support and that then puts us in danger of having to rethink 4,000 as the S&P's value line and consider 3,600 or even 3,200 as possible downside targets.     IN PROGRESS