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The bears wrapped up a volatile week of trading with Friday’s market pullback to get the weekly win. The bulls were caught backpedaling throughout last week as lower lows came into play, and this week promises more of the same volatility, with Fed news here in the United States and the “Brexit” vote overseas.

The Dow fell nearly 60 points, or 0.3%, to finish at 17,675 on Friday. The blue-chips traded in negative territory for much of the session after opening a fraction of a point higher at 17,733. Resistance at 17,700-17,800 held for the fourth-straight session. A move above the latter should get 18,000 in play.

The S&P 500 Volatility Index ($VIX, 19.41, up 0.04) traded up to 20.03 during Friday’s session, with resistance at 20 holding by a thread. There is risk to 22-22.50 on continued threats above this level. The bulls pushed a low of 18.71 during the second half of the action, but they failed to get below support at 17.50.

I predicted the late-May rally into mid-June, and last week’s action was also penciled-in. While I now believe the rest of June could be shaky, a rally after the July 4 holiday is possible.

Today, we’ll try to stake a bullish position in a company that can enable radio frequency (RF)-based wire-free charging for electronic devices, providing power at a distance and enabling charging with mobility under software control.

Buy to open the WATT August 12.50 calls (WATT160819C00012500) for a maximum price of $1.15.

Action: I like these call options at current levels, and you can use a Limit Order up to $1.15 to get the best fills. These are the regular August options that expire on Aug. 19.

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