Lower bound of calculated range on price and volatility, potential nice wave pattern forming. Needs a little room its been the laggard of the indices, but so so was Nat Gas or XLK for a while, then kapow, the vol sinke and the consolidation ends and the rally ensues. Patience is key. Will post update with SL and another chart, we had our fill in futures at 2211. Todays calculated range 2229-2271. Also, SPX implied vol premium is high while it too is near the low end of its calculated range. These are positive or bullish signs.
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Added a little more 2180
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laced SL at 2180 where the add on was made. Looking to 2290 area to 2300 for target near term as volatility declines. Todays upper bound is 2271 so if we get there I will take partial profit. I expect the little spike in volatility was episodic and non-trending across the board and at some point we will see new highs again in April for like the 8th or 9th time in SPX, DOW, NASDAQ, and the laggard Russell 2k will likely push itself to a new high as well.
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Take some of them profits now
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MOVE UP THE SL to protect the remainder
