As of todays market close the broad markets rose initially in the morning session, then proceeded to sell off sharply, only to rebound into the close. One of the larger range days we have seen in a while. Volatility has been relatively low, after the VIX put in one of its lowest readings in a while last week, but has been sliding higher ever so slightly since. With that said, as of Tuesday of this week, we are currently in a phase 2, green up cycle according to our market direction volatilty trend indicators with lower trend line support at 332.95 on the SPY. Happy Trading!
