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Last week I warned everyone that volatility was going to go on a rampage. And that’s exactly what it did. And here’s the thing: It’s not over, not by a long shot. The rally sputtered and nearly died today. By the close it had made up some ground to end up… “massively unchanged.” But in the larger context of the week, it’s anything but.
The expected move for the week was 96 – could be 96 up or 96 down. It’s only Wednesday, and we’re already at the upper edge. That alone is evidence the beast is still out there and it’s hungry. There’s more. One of volatility’s hallmarks is a violent up-move. That’s just what we’ve seen. Let me explain what’s going on here – and why it could be pretty painful for the unprepared…
