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U.S. STOCK INDEXES

The September NASDAQ 100 rallied for the first time since last Thursday as it recovered some of its brutal losses following the U.K.'s vote last Friday to quit the European Union. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends this month's decline, the 75% retracement level of the February-June-rally crossing at 4085.07 is the next downside target. Closes above the 20-day moving average crossing at 4419.35 are needed to confirm that a short-term low has been posted. First resistance is June's high crossing at 4545.50. Second resistance is April's high crossing at 4584.50. First support is the 62% retracement level of the February-June-rally crossing at 4172.07. Second support is the 75% retracement level of the February-June-rally crossing at 4085.07.

The September S&P 500 closed higher due to short covering on Tuesday as it consolidated some of the decline off last Friday's high. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off last Friday's high, the 50% retracement level of the February-June-rally crossing at 1963.89 is the next downside target. Closes above the 20-day moving average crossing at 2012.46 are needed to confirm that a low has been posted. First resistance is June's high crossing at 2119.40. Second resistance is weekly resistance crossing at 2133.40. First support is Monday's low crossing at 1981.50. Second support is the 50% retracement level of the February-June-rally crossing at 1963.89.

The Dow closed higher on Tuesday as it consolidates some the decline off last Thursday's high The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If the Dow extends the aforementioned decline, the 50% retracement level of the January-April-rally crossing at 16,813.02 is the next downside target. Closes above the 20-day moving average crossing at 17,742.02 would confirm that a low has been posted. First resistance is June's high crossing at 18,016.00. Second resistance is April's high crossing at 18,160.57. First support is Monday's low crossing at 17,063.08. Second support is the 50% retracement level of the January-April-rally crossing at 16,813.02.

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