Awaiting the bigger trade in August

Regardless of any equity weakness in the first half of next week, the US market looks set to climb into August. The bigger equity-short/VIX-long trade does not look viable for at least another few weeks.


sp'weekly6

VIX'weekly2

Summary

It has been another long week.

Suffice to say, I will be increasingly referencing the above two charts across the next few months.

A break under the giant sp' 2K threshold looks due in the late summer. For now... it is mostly a case of sitting on the sidelines, and await a better setup.

Eyes on the VIX weekly cycle... in early August!

Goodnight from London
-

*the weekend update will be on the US weekly indexes