US equity indexes closed on a positive note, SPX +13pts (0.3%) at 4460. Nasdaq comp’ +0.3%. Dow +0.04%. The Transports settled +0.2%.
sp’daily5
nasdaq comp’
transports
Summary
SPX: the sixth day higher of eight, breaking a new hist’ high of 4461, and settling +13pts (0.3%) to 4460. Today’s candle is of the bullish engulfing type, and leans s/t bullish. Momentum ticked upward, and I would note the upper bollinger is now up to 4493, as the 4500s are realistic next week.
NAS: settling +51pts (0.3%) to 14816. Momentum remains fractionally negative, and prone to turning positive, as the 15000s are clearly due.
Trans: the fifth day higher of six, settling +33pts (0.2%) to 14900. New hist’ highs >16170 appear due late Sept/Oct.
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VIX’daily
With positive equities, the VIX was ground lower, settling -2.9% to 15.59. Momentum ticked lower, and is on the very low side. However, there appears no reason to expect a spike >20 this side of Labor day.
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Looking ahead by 6pm EST