Market Report for Jun 14 2022

Volatility for the first trading day of the week was the highest it has been for about 17-trading sessions. New support and resistance levels after a breakdown of support with volume levels on the NYSE and Nasdaq higher than average. And VIX moved up 23%.

A bearish session saw the biggest range on the S&P 500 in 15 trading days. Surprisingly the range on the Nasdaq Composite was less than the range from just 2 days prior.

About 41% of the S&P 5-minute bars were bullish and almost 45% for the Nasdaq.

Standing aside was a good position to be in on Monday and maybe also as we lead up to the FOMC statement.

Let’s go trade!