S&P 500
1876.19
-3.36 -0.18%
Dow Indu
16486.32
-28.05 -0.17%
Nasdaq
4136.67
-24.79 -0.60%
Crude Oil
101.73
-0.02 -0.02%
Gold
1284.195
-0.755 -0.06%
Euro
1.383525
+0.002040 +0.15%
US Dollar
79.825
-0.065 -0.08%
Weak

Market Commentary

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U.S. STOCK INDEXES

The June NASDAQ 100 was lower due to profit taking overnight as it consolidates some of the rally off last Tuesday's low. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the aforementioned rally, April's high crossing at 3669.00 is the next upside target. Closes below the 10-day moving average crossing at 3521.72 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 3599.50. Second resistance is the reaction high crossing at 3669.00. First support is the 10-day moving average crossing at 3521.70. Second support is last Tuesday's low crossing at 3404.75.

The June S&P 500 was slightly lower due to profit taking overnight as it consolidates some of the rally off April's low. Stochastics and the RSI remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off April's low, April's high crossing at 1892.00 is the next upside target. Closes below the 10-day moving average crossing at 1848.86 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 1878.50. Second resistance is April's high crossing at 1892.00. First support is the 10-day moving average crossing at 1848.86. Second support is the 50% retracement level of the February-April-rally crossing at 1809.03.

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