One thing is clear: if we expect big moves from these markets, we will need something to catalyze volatility or fuel trend. In the absence of provocation, the convergence of seasonal lull and structural complacency will discourage any heroic speculative moves. There is a range of event risk that can metabolize more critical themes through the week ahead, but the critical tipping point won't be lowered for speculators. Through the end of this week, speculative benchmarks reaffirmed the comfort in holding a leveraged risk exposure. The VIX volatility index slipped back to 10 - just barely closing above this extreme ... (full story)