The closing hourly charts
IWM
Dow
Sp
Summary
The Rus'2000 and Transports remain a real mess, but the dow/sp'500 are pretty clearly in ascending wedges that will surely break to the downside. Yet downside might be only 2%, dow 13k, and sp'1390, before 'benny @ jackson hole' next Friday.
There really just isn't much to say right now. The daily index moves are so tiny, with the VIX seemingly content to remain well under the usual periodic lows of 16/15.
For any 'normal person', it really is a case of 'come back in mid September'. I don't expect QE at the next FOMC, so, lets see where we are at that time.
A little more later.