S&P 500 Daily Update for Thursday August 28, 2025

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Market Summary for Wednesday, August 27, 2025:
Outlook for Thursday, August 28, 2025:
The S&P 500 closed above the long-term resistance level of 6468 on the weekly chart, setting a new all-time high for the S&P 500 with a modest 0.24% increase. Trading volume remained below average. The S&P 500 opened flat, climbed to the R1 pivot point at 6480, surpassed it later in the day, and closed slightly above it. The trend is positive across the short-, intermediate-, and long-term timeframes, as measured by the 20-, 50-, and 200-period moving averages, respectively, with the S&P 500 trading above all three.
NVIDIA reported solid earnings after the close, but the results fell short of high expectations, causing its stock to drop over 3% in after-hours trading. This decline is having a limited impact on NASDAQ and S&P 500 futures, which were slightly down. Interest rates eased slightly, becoming more stock-market-friendly by the close, despite earlier increases in the 30-year yield. Small-cap indices, including the S&P 600 and Russell 2000, are in uptrends, while mid-caps performed well but remain below their all-time highs.
Market sentiment is lacking fear, indicating potential complacency, which could signal volatility if conditions shift. Key indicators, including the slope oscillator, are showing positive short-term momentum, while others, such as the StochRSI and CCI charts, improved but do not yet reflect strong conviction. The intermediate-term Chande Trend Meter is positive, and long-term indicators remain bullish. The VIX is low in the 14 range, suggesting calmer conditions.
Economic reports included a weekly MBA mortgage index, down 0.5%, an improvement from the prior week’s 1.4% decline. Geopolitical and trade developments, including tariffs, were monitored for potential market impacts but nothing caused any market movement. The markets await Thursday’s economic data, including jobless claims and the second GDP estimate, and Friday’s core PCE inflation report, which could influence sentiment. Despite the positive outlook, a defensive shift is persisting, with growth underperforming value in some areas, though discretionary stocks are outperforming staples, signaling some optimism.
Overall, the S&P 500 has maintained a positive bias with mixed momentum, leaning cautiously optimistic for Thursday, August 28, 2025.

PDF of Slides:
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DISCLAIMER This video is for entertainment purposes only. I am not a financial adviser, and you should do your own research and go through your own thought process before investing in a position. Trading is risky!