Todd Colvin of Mark IV Brokerage breaks down the latest market action in E-mini S&P 500 futures as index prices kick off the week with a modest decline, holding near 7,675. Colvin examines price trends since the August 13 all-time high, noting a 2 percent pullback as markets await key economic catalysts, including PCE inflation data and the Jackson Hole Symposium. He discusses Federal Reserve rate hike expectations and market positioning before turning to volatility, where equity volatility remains unchanged near year-to-date lows despite falling equity prices. Finally, Colvin previews upcoming economic releases, including ADP employment, the Philly Fed non-manufacturing index, and consumer confidence.