ChiNext stocks have been more subdued than they usually are, as reflected in shrinking volumes. This is also mirrored in observed volatility, which is running at a fraction of the peaks reached earlier this year and in 2015. Price action has been contained in an ever-expanding triangle, the likelihood of breaking its boundaries increasing as we move into the apex. Technically, that would not be significant now and perhaps we should redraw boundary lines more loosely. Moving averages are a mess because we have been moving broadly sideways this summer, and slightly worrying is a thin Ichimoku cloud, which will no longer provide support to a bull trend. Time to trim expectations and positions perhaps?