US equity indexes began August on a strong note, SPX +110pts (1.5%) at 7600. Nasdaq comp’ +2.1%. Dow +1.3%. The Transports settled +0.9%. R2K +1.7%
sp’daily5
nasdaq comp’
r2k
transports
Summary
SPX: a third day higher, printing 7610 – just 10pts shy of a new hist’ high, settling +1.5% to 7600. Momentum has turned positive. A break >7620 appears due, and then onward into the 7700s.
NAS: a third day higher, settling +2.1% to 25913. Momentum has turned positive.
R2K: settling +1.7% to 296.22. A break of the downward trend. Momentum due to turn positive on Tuesday.
Trans: settling +0.9% to 21231, partly helped by lower oil prices. Momentum has started to tick back upward.
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VIX’daily
Volatility was ground lower, the VIX settling -0.8% to 15.86.
Daily momentum has turned negative.
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Looking ahead by 6pm EDT