Although there are financial firms among other companies who have issued pink slips this week, there will likely be more in the next few weeks.
There will be eyes focused on the job market in the United States and there will be a lot of focus on issues in Italy.
What does it boil down to? VOLATILITY.
Watch the VIX this week. Levels above 32 are associated with larger-than-normal price fluctuations in the market. Don't panic when it comes to increasing levels of volatility, but determine the potential trading ranges of the major indices. Unless the major levels of support or resistance are broken, the sideways market pattern may very well continue.
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