Zeev's Turnips Patch-No Politics (ZEEV)

[Alchemist]

Morning Volatility Report

Friday was a down day with new 20 day lows in all indices. The NDX cash and COMPX had WR4 days. The SPX had its fourth down day in a row.

As I write this there is no gap at all in the emini, and a tiny up gap in the NQ, so the premarket offers no volatility clues.

The wide range day in Nasdaq indices argues for a neutral chop day today. The 4 down days in the SPX argues for a Taylor buy day with an up bias. The lack of high negative sentiment readings argues for more down. One possible scenario includes all three possibilities: more down this morning into high negative tick readings, then a choppy day with a slight upward bias? But given the crosscurrents, I'll just watch and see what transpires before jumping in with any daytrades.

The retail index had a wide range (WR4) down day.