Interest Rate Concerns and US Equities Movement

After seeing the latest CPI news, I'm still quite concerned about the Fed's interest rate direction. Even though the market has tried to price-in some reductions, if economic data remains strong, especially the labor market which doesn't seem to be slowing down much, and $ZARJPY also hasn't shown clear pressure. Personally, I think we might need to be cautious about profit-taking in tech stocks that have run up significantly before. My current watchlist focuses on value stocks with strong balance sheets or sectors with a more defensive nature. I believe volatility is still high during this period, so it might not be the time to enter aggressively.