Technical analysis on Monday: VIX continues to be suppressed, SPY has the opportunity to rebound and continue to hit new highs VIX: Volatility is in a suppressed state VIX currently maintains a bearish structure and has fallen below the current trend line since July 10th. It is highly likely to continue to explore in the short term, with a target of 15 for now, and there is even a chance of further decline to around 12-13. From the current technological situation, the probability of a deep correction or significant decline in the market is still not high. As long as the VIX rebounds and is blocked before turning downwards again, it means that volatility is still being suppressed and the bearish trend in the US stock market has not ended yet. SPY: Standing on all moving averages, it is more likely to retrace on Monday and then hit a new high The greater possibility on Monday is that there will be a technical rebound first, and it will not directly rise all the way. Adjust briefly before continuing to charge. Expected volatility of options Expected fluctuation range for Monday: 743.74-750.32 Night trading does not rule out continuing to open high, but one should be cautious of opening high and then rising and falling back, repeatedly oscillating and washing the market during trading, and then breaking through again. This rhythm of first pulling, then washing, and finally breaking through has appeared multiple times in recent trading days. If you can retrace the daily EMA 20 (743.12) for 30 minutes or even the daily EMA 50 (around 739) on Monday and then stop falling, forming a higher low, then it is an ideal opportunity to go long. The upper target for this week will continue to be around 757-760. The 1 and 2-hour RSI have formed a bullish bottom divergence, and the index has the potential to challenge historical highs. QQ: Still in a critical selection position QQQ is currently at a critical point between long and short positions, with a weaker trend compared to SPY. Expected range for Monday: 682.06-693.92 If we can retrace the support near the daily EMA 100 (682.44) and 1-hour 20EMA (682.88) and regain stability, there is still a chance to continue to challenge the gap near EMA 20 696 and 705 in the future. However, the overall risk of QQQ is currently higher than that of SPY. In terms of operation, it is not recommended to directly follow SPY's optimistic expectations. QQQ needs to wait for confirmation before participating. IWM: Still the weakest among the three major indices IWM is currently the most complex form of technology. The daily chart has a quadruple divergence. Over the past 23 trading days, there have been repeated fluctuations around the 20 day and 50 day moving averages. Last week, it fell below the 50 day moving average three times in a row and quickly recovered, indicating that the long and short sides are still in a fierce game. In addition, with the current high US bond yields, the overall environment for interest rate sensitive small cap stocks is against the trend. Expected range for Monday: 289.47-292.93 Last Friday, IWM experienced significant selling pressure at the end of the trading session, but there were some signs of a halt in the decline. The most crucial thing this week is to observe whether the daily EMA 50 (290.24) and 289.47 positions can continue to be held. If it can stabilize, IWM still has the opportunity to challenge recent highs again. If it falls below and falls, be wary of further weakness in small cap stocks, see EMA 100 281.95.