JANET YELLEN’S SPEECH WAS WISHY-WASHY. NOW WHAT? $SPY $QQQ $GLD $SLV $GDX $TLT $UUP $VXX
In her much-anticipated speech at the Federal Reserve Bank of Kansas City Symposium at Jackson Hole, Wyo. on Friday, Janet Yellen started out by eloquently making a clear case for a Fed interest-rate hike. Then it seems she couldn’t help herself and turned wishy-washy. Yellen’s wishy-washiness has made the markets vulnerable in both directions. The reason is that bulls can read her statement as bullish and at the same time bears can read her statement as bearish. This chart illustrates that battle between bulls and bears. Please click here for the chart. The chart is a one-minute chart around the