$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...