S&P 500
1946.16
-26.13 -1.34%
Dow Indu
16804.71
-238.19 -1.42%
Nasdaq
4422.81
-70.58 -1.60%
Crude Oil
89.06
-1.67 -1.84%
Gold
1213.225
-2.525 -0.21%
Euro
1.263815
+0.001375 +0.11%
US Dollar
85.839
-0.072 -0.09%
Weak

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U.S. STOCK INDEXES

The December NASDAQ 100 was slightly lower overnight as it extends Wednesday's breakout below the April-August-uptrend line crossing near 4017.16. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If December extends this week's decline, the 25% retracement level of the April-September-rally crossing at 3943.07 is the next downside target. Closes above the 20-day moving average crossing at 4053.44 would confirm that a short-term low has been posted while opening the door for additional weakness near-term. First resistance is the 20-day moving average crossing at 4053.44. Second resistance is September's high crossing at 4118.75. First support is the 25% retracement level of the April-September-rally crossing at 3943.07. Second support is the 38% retracement level of the April-September-rally crossing at 3849.07.

The December S&P 500 was slightly higher overnight as it consolidates some of Wednesday's huge decline. Stochastics and the RSI are becoming oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-tgerm. If December extends this month's decline, August's low crossing at 1897.40 is the next downside target. Closes above the 20-day moving average crossing at 1979.95 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 1979.95. Second resistance is September's high crossing at 2014.30. First support is Wednesday's low crossing at 1934.00. Second support is the reaction low crossing at 1930.20.

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