Wall Street Braces for Fed Testimony as Dow Jones Fluctuates Amid Housing Data and CEO Resignations.
The stock market rally saw losses for a second straight session, with the Nasdaq and S&P 500 getting extended, so a pullback wasn't a surprise and may even be welcome. Market breadth was weak Tuesday, but has been improving. Meritage Homes reclaimed a buy point Monday, while Allegro MicroSystems and Lantheus Holdings flashed early entries. ELF Beauty presented a tight entry. ATI is moving toward a possible entry. Fed Chief Jerome Powell testifies before the House Financial Services Committee at 10 a.m. ET, then appear before the Senate Banking Committee on Thursday.