18
Jun

The Morning Report - Who's Afraid of Janet? $SPY

Markets continued beautifully yesterday as each major index continued to set-up JHook patterns and closed above respective 8 EMAs.

But all I hear from retail traders is a fear of Janet Yellen's decision today regarding interest rate hikes and the great "tapeer." Prophecies can be self-fulfilling, but it would surprise me if Janet suddenly changed her dovish tone. My port is fairly light coming into this at less than 40% invested and I will continue to manage it from there. Here is the SPY chart followed by a video reminder of tapeer tantrum behavior.

 

y618

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