Today’s sell-off seems to be slowly getting bought up by the bulls so far today and quite a bit off the lows of the day.
But the big question mark is what the FOMC Statement will say tomorrow. Will they, or will they not remain “Patient” in terms of when they eventually raise interest rates. “Nobody” knows.
I for one don’t think they’ll drop the word “Patient” – I could be wrong, and I’m not putting on any major positions before then either. I’m simply going to keep my portfolio the way it is and wait for the fireworks that the Janet is sure to bring tomorrow afternoon.
For now, keep this bearish list of trade setups handy, and if the Yellin disappoints, this list of trade setups will instantly become relevant.
Here’s the bearish list of trade setups:
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