Sum
Very bullish week for USA indexes, with DIA back above all pivots on 9/11 and launch from there.
DIA/INDU leading, above 2HR1
SPY/SPX and VTI testing 2HR1
NDX lagging, above all pivots and Q3R1 but not at long term resistance yet like DIA
RUT above all pivots but not at long term resistance yet
NYA very bullish above 2HR1, likely due to global components.
In addition, after finding support on various rising weekly moving averages on the August pullback lows, weekly Bollinger bands are in play on all 5 USA mains. Overshoots are bullish in bigger picture but can lead to shorter term weakness.
SPX - first weekly BB overshot since 12/5/2016, near minor trading high
NDX - tag but no overshoot
INDU - overshoot 7/31 bar near trading high
RUT - not there yet
NYA & VTI - first overshoots since 12/5/2016
Some slowdown likely for the week, but larger picture bullish. Watching response from SPX and VTI 2HR1s. Curiously, NDX has slowed to sideways for the second half and could be the first to fall under a monthly pivot on any weakness.
SPX / SPY / ESZ / ES1
SPX W: First touch of rising 20MA (orange) was the pullback low, and 4 bars later new highs and pushing the BB.
SPX W: Testing 2HR1.
SPY D: High of month on AugR1.
ES Z: Back on buy 8/30.
ES 1: Also testing 2HR1.
SPX sum: Testing 2HR1 and AugR1. Reclaimed above all pivots 8/30, Sept pullback held the pivots, and zoom to new highs.
NDX / QQQ / NQZ / NQ1
NDX W: Looks a bit more toppy with the weak up bar.
NDX W: Not on any long term level yet.
QQQ D: Recovered above all pivots 8/22, and holding SepP as support (same level as Q3R1)>
NQ Z D: Easier to see SepP hold.
NQ 1 D: Above July close high despite 2 drops below.
NDX sum: 1st half leader, 2nd half hasn't done much. Back above all pivots 8/22 and also held SepP on lows in early September. Not near pivots resistance levels yet.
INDU / DIA
W: Pushing upper BB after pullback to rising 10MA.
W: Blast above 2HR1, bullish.
D: Had been below SepP for 4 days, then jumped above both SepP and SepR1 on 9/11. Testing Q3R2 and no damage so far.
INDU sum: Back above all pivots 9/11 and above 2HR1 is bullish. Testing Q3R2 and poking above.
RUT / IWM
RUT W: Launch above weekly 20MA after pullback to 50MA.
RUW W: Launch above 2HP.
IWM D: Held 2HP & Q3P combo 8/31-9/8. SepR1 within reach but not there yet.
NYA & VTI
NYA W: Wow, jump above YR1 and 2HR1.
NYA D: Support on 2HR1 so far.
VTI W: Testing 2HR1
VTI D: Also held SepP on pullback, jumped above Q3R1, to 2HR1 test.
