📉 The S&P dipped into the 7,250 range, held it twice, and snapped back both times on real volume 💥. That’s not a dead-cat bounce — that’s a support level doing its job 🛡️.
But the recovery stalled.
The Qs are sitting right at resistance, and until the new Fed chair tips his hand on rates Wednesday, this market isn’t going anywhere fast ⏳.
Expect rangebound action, 7,300 to 7,500, with IWM as the quiet outlier — making higher highs and higher lows while the big indexes chop.
Small caps caught a rotation bid and barely flinched on the vol spike 🔄.
That’s a tell.
Volatility spiked early and faded by Friday 📉➡️📈. VIX back near 17, NASDAQ vol back near 26. The fear trade unwound almost as fast as it showed up ⚡.
Summer’s here — volume dries up, vol dries up, rangebound becomes the default ☀️.
Theta-positive, delta-neutral trades were built for exactly this 🧠💰.