US equity indexes mostly closed fractionally mixed, SPX +7pts (0.2%) at 4468. Nasdaq comp’ +0.04%. Dow +0.05%. The Transports settled +0.2%. R2K -0.9%
sp’daily5
nasdaq comp’
r2k – via proxy IWM
transports
Summary
SPX: the fourth day higher of five, breaking a new historic high, settling +7pts (0.2%) to 4468. Momentum ticked upward, and remains marginally positive. RSI 66s, a little higher, but the 4500s are clearly within range next week, or more viable after Aug’20th OPEX.
NAS: settling +6pts (0.04%) to 14822. Today’s candle is a very subtle black doji, and leans s/t bearish, if only early Monday. New hist’ highs in the 15000s appear due, whether end month or early Sept’
R2K: a second day lower, settling -0.9% to 221.08. The 50dma remains s/t resistance. A break above – as appears probable, will offer new historic highs. To be decisive, the bulls need a daily close >234, from there, soft target of psy’250, with secondary of psy’300. The latter would arguably equate to sp’4900/5100.
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Trans: the sixth day higher of seven, settling +28pts (0.2%) to 14929. New hist’ highs appear realistic in Sept’.
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VIX’daily
VIX weekly
With equities mostly remaining in algobot melt mode, volatility was ground lower for a third day, the VIX settling -0.9% to 15.45.
For the week, the VIX declined by -4.3%. Momentum ticked lower, if still fractionally positive. There appears no reason to see a break above the key 20 threshold this side of Labor day.
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a little more… by 6pm EST