It has not taken the market long to erase the losses in the beginning part of August and begin to create new highs. Right now it looks like the S&P 500 is poised to hit the 2,000 mark before we leave August and make our way into September. The Russell 2000 is performing well but not nearly up to par as the SPX. The RUT is busy battling its 50 day moving average trying to regain some positive ground. The Nasdaq has been the best performer thus far. It broke its all-time highs last Monday and has run up almost every day since. All markets are currently overbought and need to pullback or rest before pushing higher. The VIX has relaxed and dropped back into the lower 11s.
