Spy Weekly Chart

Welcome Back Volatility?

After months of slow creep, looks like volatility might be back in vogue. I’m sticking with the ranges I mentioned here, here, and here.

  • 138.22 — Thursday – High Bar
  • 136.63 — Monday – Dense – Thursday
  • 135.80 — Tuesday – Support and Resistance
  • 134.25 — Tuesday (ish) – Resistance
  • 133.72
  • 131.50

Spy Weekly Chart

The early momentum this morning is coming from Europe with some possible closure on the Greek bond swap fiasco threatening resolution. The headline risk this morning from the US is the Nonfarm Payrolls number. My levels of comfort are 138.22 on the high side and 135 on the  low side. Outside those ranges, I’ll make adjustments.

Gold looks particularly interesting this morning the GC_F bounced off $1665, I was looking for $1650 and didn’t get into anything, but it’s worth watching. This 1550 – 1800 channel looks to be holding up well.

Good Trading.