US equity indexes closed on a positive note, SPX +27pts (0.5%) at 5842. Nasdaq comp’ +0.3%. Dow +0.8%. The Transports settled +1.9%. R2K +1.6%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: the fifth day higher of seven, settling +0.5% to 5842. Momentum is flat-lining on the marginally positive side. This afternoon’s style of price action offers little to the bears. Friday-OPEX… a pin of 5800, as 5700 is looking of out range, barring adverse geo-political news.
NAS: a day of minor chop, settling +0.3% to 18367. Momentum remains marginally positive, as tech is lagging the broader market.
R2K: a fourth day higher, settling +1.6% to 226.72… nearing the July 227s.
Trans: the fifth day higher of seven, settling +1.9% to 16562. Any price action >16800 would be decisive, and offer a monstrous multi-year bullish breakout.
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VIX’daily
Volatility was mixed, an opening high of 21.01 (largely due to VIX-OPEX), if cooling back to settle -5.1% to 19.58. Momentum ticked lower for a sixth consecutive day, settling fractionally positive.
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Looking ahead by 6pm EDT