The US employment report on Friday confirmed what the equity indexes have been foretelling for the last month.

Trade selection using volatility as the primary criteria. Different trades for different volatility opportunities.

Last year following the old English adage to "Sell in May and go away" resulted in saving a 9.4% decline in the S&P 500 Index.

Trade selection using volatility as the primary criteria. Different trades for different volatility opportunities.

Along with our regular market indicators, we look at the cyclical status of the equity market, admittedly something we should have done sooner since the cyclical rotation looks to be well underway.

Trade selection using volatility as the primary criteria. Different trades for different volatility opportunities.

Pricing in selected commodities seems to have lost touch with the reality of supply and demand fundamentals.

Trade selection using volatility as the primary criteria. Different trades for different volatility opportunities.

Last Wednesday Ben Bernanke was clear, the Federal Reserve intends to keep interest rates at the current low levels for sometime probably for the next two meetings of the Federal Open Market Committee meetings.

Trade selection using volatility as the primary criteria. Different trades for different volatility opportunities.

Market review with a volatility twist

Trade selection using volatility as the primary criteria. Different trades for different volatility opportunities.