BRUTAL

A very frustrating day at my trading turret as the internet connection worked off and on but mainly off.

The markets acted a bit differently as the SPY range expanded to 86 cents, a step up from the recent 45 cent range. I still think that more volatility is headed our way and my guess is lower as that gap from Friday still needs to be filled. As I mentioned yesterday, it is rare for a gap not to be filled and if you look at the above chart you will see that every other gap since October was eventually filled.

The Volatility indexes have given us no signals and the NAZ/SEMI's are underperforming the bigger caps. This does not bode well as the techs should lead in a bullish market. I guess there just is not much in the way of commodity/metal stocks on the NAZ.