The Chart Pattern to Watch This Week

[Jeff Clark's Market Minute]( The Chart Pattern to Watch This Week Yesterday was the most boring 300-point rally I’ve ever seen. Stock futures bolted higher Sunday night after Treasury Secretary Steven Mnuchin said something positive about the trade talks between the U.S. and China. S&P 500 futures, for example, rallied 17 points higher on the comments. The futures remained higher all through the Sunday evening/Monday morning session. By the time the opening bell rang on the NYSE, the S&P 500 gapped 17 points higher. And that’s pretty much where the market stayed all through the trading day yesterday. Recommended Link [The Future of Money is Here and it Will Give You the Creeps...]( This is urgent... New research shows President Trump could be on the verge of issuing [the most controversial executive order since Roosevelt's ban on gold](. I think you'll agree that—if it passes—this could be the single most dangerous currency law ever. And there's little time left to lose. [Watch the must-see video here.]( — There was some additional buying pressure in the final minutes. That helped the S&P close up 20 points. For the most part, though, everything that happened in the stock market yesterday happened late Sunday night. There wasn’t much movement at all during yesterday’s session. It was a spectacular display of no volatility – which kind of flies in the face of [what I wrote yesterday](. I’m looking for more volatility this week, not less. Yesterday’s action – or lack of action – has not changed my opinion. Nor has it changed the look of the daily chart of the [Volatility Index (VIX)]( we posted yesterday. So, for today, at the risk of burrowing even deeper into the “higher-volatility” bunker, let’s take a look at the 60-minute chart… Remember, 60-minute charts are shorter-term than daily charts. Patterns on a 60-minute chart tend to play out within just a few days. As you can see, in this timeframe, the VIX is tracing out a consolidating triangle pattern. And it’s quickly approaching the apex of the triangle. So we’re likely to get a breakout of this pattern soon. There’s no way to guarantee which direction the breakout will occur. But based on the conditions of the [MACD]( and [RSI]( momentum indicators, the odds favor an upside breakout. This, of course, mimics the bullish setup in the daily VIX chart I showed you yesterday. So, while Monday’s action in the market was lethargic, it still looks to me like volatility is poised to pop higher. Best regards and good trading, Jeff Clark Reader Mailbag What’s your strategy for the coming days and weeks? Are you planning for a resurgence of volatility? Let us know… along with any trading stories or suggestions for the Minute… [right here](mailto:feedback@jeffclarktrader.com). This email was sent to {EMAIL} as part of your free subscription to Jeff Clark's Market Minute. [Click Here]( to change your delivery preferences or unsubscribe. © 2018 Jeff Clark Trader, 455 NE 5th Ave, Suite D286, Delray Beach, FL 33483, USA. All rights reserved. Any reproduction, copying, or redistribution, in whole or in part, is prohibited without written permission from the publisher. Information contained herein is obtained from sources believed to be reliable, but its accuracy cannot be guaranteed. It is not designed to meet your personal situation – we are not financial advisors nor do we give personalized advice. The opinions expressed herein are those of the publisher and are subject to change without notice. It may become outdated and there is no obligation to update any such information. Recommendations in Jeff Clark Trader publications should be made only after consulting with your advisor and only after reviewing the prospectus or financial statements of the company in question. You shouldn't make any decision based solely on what you read here. Jeff Clark Trader writers and publications do not take compensation in any form for covering those securities or commodities. Jeff Clark Trader expressly forbids its writers from owning or having an interest in any security that they recommend to their readers. Furthermore, all other employees and agents of Jeff Clark Trader and its affiliate companies must wait 24 hours before following an initial recommendation published on the Internet, or 72 hours after a printed publication is mailed.