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U.S. STOCK INDEXES

The June NASDAQ 100 closed sharply higher on Monday as it rebounds off last Friday's low. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends last week's decline, April's low crossing at 4259.00 is the next downside target. Closes above last Monday's high crossing at 4441.50 would confirm that a short-term low has been posted. First resistance is last Monday's high crossing at 4441.50. Second resistance is March's high crossing at 4476.50. First support is last Friday's low crossing at 4324.00. Second support is April's low crossing at 4259.00. Third support is the 38% retracement level of the October-March-rally crossing at 4189.49.

The June S&P 500 closed sharply higher on Monday as it rebounds off support marked by the 20-day moving average crossing at 2074.68. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends last Friday's decline, March's low crossing at 2031.50 is the next downside target. Closes above March's high crossing at 2106.70 are needed to renew this year's rally. First resistance is last Wednesday's high crossing at 2105.00. Second resistance is March's high crossing at 2106.70. First support is last Friday's low crossing at 2065.00. Second support is March's low crossing at 2031.50. Third support is the 38% retracement level of the October-February-rally crossing at 2001.39.

The Dow posted a triple-digit gain on Monday as it rebounded off last Friday's low. Today's rally was due to better-than-expected earnings from companies. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If the Dow extends last Friday's decline, March's low crossing at 17,579.27 is the next downside target. Closes above last Thursday's high crossing at 18,169.26 would confirm that a short-term low has been posted. First resistance is last Thursday's high crossing at 18,169.26. Second resistance is March's high crossing at 18,288.63. First support is the 25% retracement level of the October-March-rally crossing at 17,680.09. Second support is the 38% retracement level of the October-March-rally crossing at 17,357.73.

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