London-based trader Michael Jarman from H20 Markets warns volatility seems to be creeping back into the markets and as a result he suggests investors start to get “more active with their portfolios and think of cutting losses.”

This week, according to Michael, stocks look like they’re going to close lower. In terms of levels, Michael explains the S&P 500 has around two percent worth of support and the same goes for the FTSE 100. As a result, he’s calling key support levels at 1815 for the S&P, and 6450 for the FTSE.

Michael’s top trade this week is to sell euro dollar into 1.38. He says we’ve seen a breach of the 28-day moving average and he plans to place a stop around 35 pips and his target of 90 pips to the downside.