Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
The volatility of late reminds one of latter 2011 and periods of 2010, 2009, and 2008. I mentioned this area of ‘white noise’ between 1370 to 1390. We can even expand that down 10 points to 1360ish as the market has bottomed at the high 1358s twice in the month of April. Since last Thursday we have traveled the entire length of that range down (thru Monday morning) and now all the way back up.
In sum, the index is right back to where it was at the highs Thursday… but the trip getting there has been neck snapping.
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