The Federal Reserve made its move. A small move, an expected move, and an insignificant move over the long run. But don’t tell that to the stock market. With those ever-present forces of algorithmic trading programmed to react to every single word spoken on Fed day, the S&P 500 Index ($SPX) moved about 1% higher in the 2 hours between the announcement and the close. So ends another “event” day for stock traders and investors.
Now, on to the rest of our lives. And that means taking a look at the biggest S&P 500 ETF (SPY), with a different goal in mind. Not to trade it today or tomorrow. But to try to own it for a while, with iron-clad, reliable protection. At least for a period of time.
