US equity indexes closed on a positive note, SPX +23pts (0.6%) at 3959. Nasdaq comp’ +1.6%. Dow +0.2%. The Transports settled +0.9%. R2K +1.6%.
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: third day higher of four, settling +0.6% to 3959. A second close above the 50dma. Teal gap was precisely tagged to 3974. Momentum ticked upward, and is on the high side. Bullish ahead of the Fed/GDP… and then a washout, before resuming upward across August. I’d note the 200dma at 4358.
NAS: fourth day higher of five, settling +1.6% to 11897. A second close above the 50dma. Big target is key price threshold of 13k… some 10% higher!
R2K: third day higher of four, settling +1.6% to 181.49. Green gap tagged. Next resistance 187s.
Trans: a fourth day higher, settling +0.9% to 13919. A second close above the 50dma. Soft target 14600s. Secondary 200dma 15100s.
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VIX’daily
Volatility was subdued, the VIX ground lower for the fifth day of six, settling -2.5% to 23.88. Momentum ticked lower, and is moderately negative. A spike can be expected… from next Wed’ afternoon onward… if not… with the Thursday GDP data.
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Looking ahead by 6pm EST