Yes, that's the pre-flap that Powell then flaps at 2:30, and about 7-8 mins later he REALLY flaps when he no longer has his little statement and is left to his own devices. And it always intrigues me when while he's reading what was released at 2PM, the markets react when he speaks what the machines had read 30 minutes prior. As if coming from his mouth it carries more weight or importance (or impotance).
So 2 is the release and then he speaks and does 2:30 EDT followed by QA. There is usually a pump followed by a fake drop and then he will say something that will cause the market to moon. There has not been a single significant down move in forever on rate decision days.
Before you'all get carried away, weakest selling pressure ever. How can you have any faith that the drop will hold? Such slow motion. Every $ level in QQQ guarded like its life depends on it. If I'm wrong I will be the first to admit it, but we saw these levels a month ago and it ripped a massive V. In 2022 it smashed below levels. It's hard to sustain red when the drop is so slow. Not impressed one bit by today, still could end up green.