SPY Levels and Volatility Rising

Here are the levels I posted last week (here).

  • 138.22
  • 136.63
  • 135.80
  • 134.25
  • 133.72
  • 131.50

This is starting to get interesting if you’re a seller of volatility. Look at the weekly chart today:

*Chart Lost During Migration*

I’m seeing a good range here, but as I mentioned earlier we could pull back a full 5% and still be on a nice upward trend.

There’s some other good charts here, which give more of a bearish outlook.

Gold is holding up well which makes one wonder… I’m a buyer at 1650 if it takes another leg down, otherwise I’ll be watching.