US equity indexes closed broadly higher, SPX +49pts (0.8%) at 6358. Nasdaq comp’ +0.6%. Dow +1.1%. The Transports settled +1.0%. R2K +1.5%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: the fifth day higher of six, printing a new hist’ high of 6360, and settling +0.8% to 6358. Momo prone to turning positive on Thursday.
NAS: settling +0.6% to 21020. Momentum remains fractionally negative.
R2K: a new multi-month high, settling +1.5% to 226.55. Momo to turn positive early Thurs’.
Trans: a second day higher, settling +1.0% to 16267. Momo prone to turning positive on Thursday.
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VIX’daily
Volatility was ground lower for the fifth day of six, the VIX printing a new multi-month low of 15.32, settling -6.8% to 15.37. Daily momentum remains fractionally positive.
I see the VIX CALL trade as dead until the flip side of Labor day.
The only hope for the volatility bulls & equity bears is a wild card event.
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Looking ahead by 6pm EDT