September 23, 2021

To gain an edge, this is what you need to know now.

Taper

Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark for the stock market index (SPX).

Note the following:

• The chart shows the release of the FOMC statement.
• Momo had been running up stocks in advance in hopes that there would not be any taper this time.
• Momo got its wish, no taper this time.
• The most critical part of Powell’s press conference is that he said it would not take a knock-out, super strong employment report for September to think the test is met to begin a taper in November.