I have rarely seen this.

A second inverted hammer doji in volatility.

(Click on image to enlarge)

That either means that buying is just about over and hello correction or we have yet to see parabolic type buying come in.

Regardless, something big is coming.

Yesterday, as far as the inside weeks, only two instruments in the Economic Modern Family were left with that pattern.

And both still are trading inside the prior week’s trading range.

Transportation IYT needs to clear its range-197.95-188.93.

And Granny Retail XRT needs to clear its range-45.15-42.90.

Again, if IYT and XRT are signaling any impending weakness (both closed red today), watch the volatility index VXX to take out 14.35-14.50 and hold.

Otherwise, should IYT and XRT clear the prior week’s high, put on your Dow at 30,000 hat.

S&P 500 (SPY) New all-time highs at 334.19. 332.90 first line of support. Then lower 327.50

Russell 2000 (IWM) 165.56 key support to hold 168.15 must clear

Dow (DIA) 294.14 the all-time high and 288 underlying support

Nasdaq (QQQ) Inside day near the all-time high. Must hold 226.85 must hold.

KRE (Regional Banks) Back in an unconfirmed caution phase-remember this is where the first signs of weakness were before the virus hit the tape.

SMH (Semiconductors) Inside day so 144.86 now must hold.

IYT (Transportation) Back in an unconfirmed caution phase. 197.95 point to clear and 195 point to hold

IBB (Biotechnology) Confirmed bullish phase with inside day which means 119.53 must hold.

XRT (Retail) 45.15 point to clear