S&P 500
2755.88
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Dow Indu
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67.83
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1234.725
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1.145985
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95.960
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The December NASDAQ 100 was lower in late-overnight trading indicating that the day session is likely to come under pressure as the two-day rally in China's stock market began to unravel, renewing questions about economic growth in the second-largest economy and the implications for the U.S. Investors are also braced for a heavy round of earnings from major companies such as Caterpillar Inc., and McDonald's. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December resumes the decline off October's high, the 75% retracement level of the April-September-rally crossing at 6720.95 is the next downside target. If December resumes the rally off October's low, the 50-day moving average crossing at 7461.46 is the next upside target. First resistance is the 20-day moving average crossing at 7354.30. Second resistance is the 50-day moving average crossing at 7461.46. First support is the 62% retracement level of the April-September-rally crossing at 6898.35. Second support is the 75% retracement level of the April-September-rally crossing at 6720.95.

The December S&P 500 was plunged to a new low for the month overnight as it renewed the decline off October's high. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends the decline off October's high, the 75% retracement level of the April-September-rally crossing at 2672.69 is the next downside target. Closes above the 20-day moving average crossing at 2841.24 are needed to confirm that a low has been posted. First resistance is the October 17th reaction high crossing at 2823.00. Second resistance is the 20-day moving average crossing at 2841.24. First support is the 62% retracement level of the April-September-rally crossing at 2720.80. Second support is the 75% retracement level of the April-September-rally rally crossing at 2672.69.

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