Technical analysts have warned about the market that originally appeared on TheStreet.

Let's talk about April 22nd. That day, the S&P 500 jumped 2.5%, which in itself was good.

But it also reflects investors' relief that China and the United States may begin to address their trade differences, with President Trump saying he will not try to fire Fed Chairman Jerome Powell.

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Below the surface, something else happened. The S&P 500 S&P breaks on a critical metric line that is carefully watched, and the recommended stocks may be higher. In fact, the S&P 500 climbed nearly 12% until May 29.

But if people listen to TheStreet Pro contributor Bob Lang, what's going on now is a bit tricky. Based outside Boston, Lang is known for his job in options and stock trading.

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Lang said in a podcast interview with Chris Versace, manager of TheStreet Protfolio, that he wanted to check the confirmation of the buying signal before it became too bullish. (called the moving average convergence difference indicator, or MACD for short.)

Lang said the confirmation has not arrived yet.

There are macro problems:

• Tariff and trade concerns. Lang is worried about the lack of progress in trade transactions.
  

• Inflation worries. The personal consumption expenditure index showed that the annual inflation rate in April fell to 2.1% per year. The change was 2.6% except for food and energy.

• Worry about when the Fed will lower interest rates. Lang believes that the Fed is also focusing on reducing inflation to 2% or less.

CME Group's FedWatch tool saw two cuts before the end of the year, maybe three, but probably not before September. (President Trump and Fed Chairman Jerome Powell had lunch last week, and the president said he thought the Fed should now lower interest rates. ​​)

The Fed's main federal funding rate remains at 4.25% to 4.5%, high enough to bring mortgage rates close to 7% and limit activity in the housing market.

The Federal Open Market Commission, which sets this tax rate, lowered it from 5.25% to 5.5% in the fall of 2024.

The next meeting of the Federal Reserve of the Commission is June 17-18, which is important. At the meeting, the committee will also release their personal forecasts of the direction of economic development.

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Lan said the Fed's policy effectively warns investors not to speculate too much. Lan said the Fed's job is indeed not to save the stock market.