Markets are gapping higher in Globex as I type this. Focus this week is on key Economic Releases, Fedspeak, Conferences, and the beginning of Earnings Season.
Once again, the S&P 500 closed within its weekly expected move. Interestingly, it touched both the upper and lower edges on the liquidation break and subsequent recovery.
For the new week in the S&P 500, volatility has slightly contracted, for an option implied move of + / - 38 points with upper and lower ranges of 3303.40 and 3227.30.
The Weekly Trend remains up, and the bias is also up.
The Calendar is active.
Have a great week.
All the best,