The markets continue their jittery movements this week as global concerns have caused investors to respond. The S&P 500 (SPY  ) has been back and forth with very little to show for it. Down a fraction of a percent, technical traders would say this market is in a "wait and see" mode, a clever reference to all traders sitting back and waiting to see who makes the first move. For the year the S&P 500 still holds a gain but recent weeks have shown a pause in the bullishness.

The Nasdaq 100 (QQQ  ) has finally shown some hesitation to move higher after weeks and weeks of brute strength. This week the QQQ has also remained in a sloppy pattern though buyers did buy the brief pullback on Tuesday after President Trumps comments on Dodd-Frank. For the year the Nasdaq 100 is still the strongest of the major indices.

Volatility (VXX  ) has made it back on the radar this week as the global tensions cause traders to put on some hedges. The VXX is up almost 8% on the week with volume that has been above average. Volatility has not had a two day move like this since October of last year.

After a few weeks consolidating in a range the Gold mining (GDX  ) stocks have pushed out to the upside. This week the GDX has already added over 4% and is quickly approaching the 200 day moving average. Gold (GLD  ) has naturally been a driving force as traders look to the precious metal for some protection until the dust settles.

Bonds (TLT  ) have also moved higher this week but have yet to break above the yearly range. After spending the year between $116 and $123 it appears that the bulls are trying for a move out of the range. Technical traders will be watching closely for that move as a sign of a short term pop. Look for more comments from the Fed later this week.