1pm update - a quiet week ahead

It would seem the market will remain stuck between sp'1700 and 1680/75 for the entirety of this week. The bulls are going to consistently struggle breaking >1700, whilst the bears remain powerless in what are the doldrums of August.


sp'60min'4 - H/S idea

Summary

I still like the H/S idea. There remains potential for a little wave lower either tomorrow or Wednesday, but I sure don't intend to try to trade it.

We have two big QE at the end of this week, along with opex, which tends to favour the bulls.

Even those hoping for a hit of the rising 50 day MA in the 1650s surely realise that is now seemingly off the agenda for this week.
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VIX update from Mr T.



It would seem a fair few are looking for increased volatility in Sept, although even VIX 20 remains a difficult target.