Oil Volatility and Broadcom Selloff Pressure Markets

The S&P 500 fell 60 basis points while oil prices rose over 2%, with WTI forming an inverse head-and-shoulders pattern potentially targeting $102. Oil volatility remains elevated with the OVX at 60.5, implying 3.8% daily moves ahead. Broadcom plunged 15% after-hours following earnings, with key support levels at $440 and $430. Market stability is at risk if oil volatility rises further and support levels break, potentially triggering a sharper decline.