SPDR S&P 500 (SPY)

[risk on]

Arch, you nailed it last night with d50 spot, as many have been noting. However, SPY has also been maintaining S of 9 ema , continually closing above it, and on the dAily booking yesterday , d 50 was rising, pitched up. That is a little telling, and now we are seeing what could be a straight gap over it to end any and all immediate future R in the form of MAs / EMAs. All R ? That’s correct, because above d50 there is nothing until the upper B.B., excepting of course known points pre established of R/S price points.

Re; Volatility, yes, we are range bound inside of a what should be ever constricting BBs ( all parameters). We could certainly see moves above and below the previous range points ( upper and lower immediate past price points ) , but those will quickly turn and do the opposite ( the volatility you are speaking about).

This range could take week/s - month/s to play out ( although, I expect Apx 3 weeks ) before....

Once the ever constricting range narrows to the point of stable glue, it’s will beget a big move , and given February dealt a damage we’ve not seen before , I think the ultimate ending ( big move ) to this constricting range will be down.