Crude Over $100 — Volatility Is Back
by Tony Rago
The big macro driver this morning is crude oil pushing through the $100 level, and that move is bleeding into everything across the board. Higher energy prices tend to ripple through markets quickly — impacting inflation expectations, sentiment, and risk appetite. Equity futures initially gapped down on the news overnight but have already clawed back a good portion of that drop. That said, the gap itself remains open for now, which means the market hasn’t fully repaired the overnight imbalance yet. With the VIX pushing above 30, volatility is officially back in the driver’s seat, and that tends to widen ranges, accelerate moves, and punish traders who press too aggressively early.
Days like this call for discipline more than heroics. When volatility spikes, the best move is often patience — let the market open, establish the initial balance (the early range that forms in the first phase of trading), and see where buyers and sellers actually commit. That early structure usually gives the first real clues about direction. Less is more today. Focus on clean levels, size appropriately, and respect risk. These are the types of sessions where stops aren’t optional — they’re essential. ⚡️
👉 Full breakdown is inside today’s Pre-Market Playbook. Check it out here and trade it smart.
