Powell flagged potential liquidity crunches around mid-April back in early December—could that actually mark a reversal point? Looking at the Nasdaq chart through a Wyckoff distribution lens, the pattern suggests distribution is underway. Meanwhile, multiple geopolitical wildcards are in play: Iranian tensions potentially dragging on for months, trade friction heating up, and the US government facing a shutdown deadline at month-end. The narrative some traders are running: dump now, then pivot toward rallies ahead of mid-term positioning. Whether markets will actually dance to this tune remains the real question—macro flows, technical structure, and political calendars don't always sync up the way we expect.