Market Recap For 8/3/2015

The market started the week on a down note. The SPX closed at 2098.04, a loss of -5.80 or -0.28%. It dipped below the 50% retracement level before rebounding into the close. It printed a hammer like red candle and closed right beneath the Fibonacci 61.8% level near 2100. The potential resistance remains to be 2108.86 with possible support near 2079.

SPX

(click on the chart to enlarge)



The NDX didn’t perform much better. It also closed with a loss. It closed at 4580.46, a loss of -8.44 or -0.18%. It’s intraday low tested the support level near 4546. This level will remain to be the potential near term support, and the 7/22/15 gap remains to be the potential near term resistance.

NDX




The RUT is still holding above the ‘H’ pattern baseline and encountered resistance at the 1238.76 level. It closed at 1231.79, a loss of -6.89 or -0.56%. The 1275 level remains to be the potential resistance and the levels between 1215.42 and the Fibonacci -127% extension at 1207.35 could be potential near term support zone.

RUT