$TSX facing tough resistance

The TSX has had a massive run since March 20th, and is now up against some massive resistance. It's not a coincidence that commodities are overbought and the TSX is at this level, as this index is closely tied to energy and metals.

I'm banking on a triple top... let's see how it plays out...



Keeping with that topic, check out Bespoke's current commodity snapshot. All signs are pointing towards oil cruisin for a bruisin...

$SPX: 1406 - 1410

What was once support on the S&P500 is now going to be tested as resistance. All indices, currencies, commodities, are at critical technical levels. What's needed now is some news to move the markets... and we have just that in the jobs report, which comes out at 8:30 a.m.



You should be able to play this as a straddle, and buy a breakout, or sell a breakdown. And that can be done via the indices, or via oil, the Euro... take your pick!

Beware of a fakeout, as I'm sure there will be a stop killer move in the wrong direction.

If this level holds as resistance, the volatility cycle should start up again with a move up in the VIX.

Check the ticker for the latest...