S&P 500
2061.02
+4.87 +0.24%
Dow Indu
17712.66
+34.43 +0.19%
Nasdaq
4892.00
+28.64 +0.59%
Crude Oil
48.60
-0.27 -0.56%
Gold
1184.190
-8.700 -0.73%
Euro
1.084500
-0.003240 -0.30%
US Dollar
97.815
+0.297 +0.38%
Weak

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U.S. STOCK INDEXES

The June NASDAQ 100 was higher overnight as it consolidates some of last week's decline. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 10-day moving average crossing at 4384.15 are needed to confirm that a short-term low has been posted. If June extends last week's decline, the 38% retracement level of the October-March-rally crossing at 4189.49 is the next downside target. First resistance is the 10-day moving average crossing at 4384.15. Second resistance is the reaction high crossing at 4472.25. Third resistance is March's high crossing at 4476.50. First support is last Thursday's low crossing at 4270.00. Second support is the 38% retracement level of the October-March-rally crossing at 4189.49.

The June S&P 500 was higher due to short covering overnight as it consolidates some of last week's decline. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 10-day moving average crossing at 2073.63 are needed to confirm that a short-term low has been posted. Closes below the mid-March low crossing at 2031.50 would confirm that a double top has been posted while opening the door for a possible test of the 38% retracement level of the October-February-rally crossing at 2001.39 later this spring. First resistance is the 10-day moving average crossing at 2073.63. Second resistance is last Monday's high crossing at 2106.70. First support is the mid-March's low crossing at 2031.50. Second support is the 38% retracement level of the October-February-rally crossing at 2001.39.

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