S&P closed at 1406.58 on Friday August 31st. The support below is at 1397 and resistance above is at 1415. S&P must close above 1415 and on weekly basis must hold 1397. That is it must not close below 1397 on any day of the week. If it closes below 1397 then it would fall to 1375 which is very strong support.
The likelihood of major correction in the month of September is less. Above 1415 the next resistance range is 1430-1440.
NASDAQ 100 closed at 2772.24 on Friday and it is the strongest index among the three. It is getting help from AAPL. AAPL closed at 665.24 on Friday after hitting the high of $680.87. AAPL has lot of potential to move up. I, however, would not buy AAPL at current level unless it drops to $617.00. AAPL will help in NASDAQ rise. NASDAQ 100 very strong support at 2740
Dow Jones is facing resistance at 13,207 and support at 12,970.
$VIX – the fear index had gone above its Bollinger Band on Thursday – August 30th but on Friday it closed inside the band. When this happens, it usually keeps coming down and market rises. Will it happen this time? There is a good chance based on probability.
Overall September is also expected to be slow moving upward trend and then starting October we should see year-end rally. ECB meets on September 6th and this date is very crucial for the market.
Gold closed at 1687.6 and is headed for 1730-1735 where it will face stiff resistance. However, if Gold closes above 1754 then it will trigger 1840 target.
$VIX chart shown below with Bollinger Band signaling market to rise in coming days.