We Ripped! But will we Roll Over?

Upside Volatility
–160 pt SPX move got smoked
–I am all rallied out
–back to 3500, yet again

Will volatility stay down?
–2 recent breeches of EM
–Vol futures speak!
–bonds are scary
–stay on your game

–FED
–Jobs numbers

How Wild was the week?
–QQQ
–XLF
–IWM
–EEM

SPX Expected Move
–last week– 158.40 (expected move)
–actual move– 239.48
–next week– 91.54

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