For most of the last month, we have been pointing to the December Federal Reserve meeting as the next rising event risk for investors. Many of the issues leading up to this were outlined in our prior articles here:
The central thesis deals with the fact that the Federal Reserve has waited too long to start raising interest rates, and this is likely to impact the corporate economy in ways that might not be understood by the majority of the market. And while it might be tempting to assess the potential impact of an event in the moments immediately after the release is made public, it should be understood that many 'change' events in the market are most subtle and unfold gradually.
This could lead to extended declines in the SPDR S&P 500 ETF (SPY), and rallies in…
