US equity indexes mostly closed broadly higher, SPX +32pts (0.7%) at 4472. Nasdaq comp’ +1.1%. Dow +0.3%. The Transports settled -0.2%. R2K +1.1%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: printing a new cycle high of 4488, and cooling to settle +0.7% at 4472. Momentum ticked upward for a second day, and is due to turn positive on Thursday. Upper daily bollinger resistance… 4475, as the 4500s are far more viable next week.
NAS: printing 13963… just 1pt below the recent high, and settling +1.1% to 13918. Momentum ticked upward, and is prone to turning positive on Friday. Upper monthly bollinger offers around 15K by Labor day.
R2K: a fourth day higher, settling +1.1% to 191.86. Today’s candle is black (settling positive, but below the opening level), and leans s/t bearish, if only a day or two.
Trans: printing a new cycle high of 16075, if cooling back to settle -0.2% to 15915. Bears have nothing unless the 10MA is taken out. Upper monthly bollinger offers the 16600s.
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VIX’daily
Volatility was ground lower, the VIX settling -8.8% to 13.54. Momentum ticked lower for a second day, and is prone to turning negative on Friday.
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Looking ahead by 6pm EST