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U.S. STOCK INDEXES

The March NASDAQ 100 closed higher on Thursday while extending the trading range of the past eight days. The high-range close sets the stage for a steady to higher opening when Friday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 4389.91 would confirm that a short-term top has been posted. If March extends this winter's rally, monthly resistance crossing at 4732.00 is the next upside target. First resistance is Monday's high crossing at 4478.50. Second resistance is monthly resistance crossing at 4732.00. First support is Wednesday's low crossing at 4419.25. Second support is the 20-day moving average crossing at 4389.91.

The March S&P 500 closed higher on Thursday as it consolidates some of this week's decline. The mid-range close sets the stage for a steady opening when Friday's night session begins trading. Stochastics and the RSI are bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 2090.36 would confirm that a short-term top has been posted. If March renews this winter's rally, upside targets will be hard to project with March trading into uncharted territory. First resistance is last Wednesday's high crossing at 2117.30. Second resistance is unknown. First support is the 20-day moving average crossing at 2090.36. Second support is the reaction low crossing at 2082.50.

The Dow closed higher on Thursday as it conolidates some of this week's decline. The mid-range close sets the stage for a steady opening on Friday. Stochastics and the RSI are neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 18,048.88 would confirm that a short-term top has been posted. If the Dow resumes this winter's rally into uncharted territory, upside targets will be hard to project. First resistance is Monday's high crossing at 18,261.71. Second resistance is unknown. First support is the 20-day moving average crossing at 18,048.88. Second support is the reaction low crossing at 17,878.37.

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