2. Another way to look at this is by combining the 2 which is forming a triangle ( see attached line chart). This is also showing signs of a breakout.
3. 50d for the is at EXTREME lows; last seen in 2009 ! This is reflecting extreme complacency and it can almost never end well; a sharp correction is a given (see chart below)
4. What would the catalyst be ? who knows... could be the FED meeting or something random that the market will conveniently choose to react to
STRATEGY: bought sept contract bull call spread (25/35)