After a week of defending the July highs, equities tumbled a bit yesterday. SPX tested 6400 as well as its SMA10. Futures are slightly lower this morning as traders position for  Fed Chair Powell’s Jackson Hole speech tomorrow, For those wishing they had a preview, Fed minutes will be released this afternoon.

Although the uptrend is still technically intact, we’re seeing signs of growing unrest among equity investors, particularly among Fed watchers worried about an FOMC disappointment in September.

continued for members…

Note that while ES tested its SMA20, SPX has not – at least yet.

Note that VX has topped its SMA50 and red channel bottom.

Minutes will be released at 2pm and can usually be found HERE.