S&P 500
1864.85
+2.54 +0.14%
Dow Indu
16408.54
-16.31 -0.10%
Nasdaq
4096.78
+10.55 +0.26%
Crude Oil
103.37
+0.55 +0.53%
Gold
1295.2
0.0 0.00%
Euro
1.38135
0.00000 0.00%
US Dollar
79.875
+0.009 +0.01%
Strong

Market Commentary

Currencies | Energy | Food | Grains | Indexes | Interest | Livestock | Metals

U.S. STOCK INDEXES

The June NASDAQ 100 closed higher for the third day in a row on Thursday as it consolidated some of the decline off March's high. Today's high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. Multipe closes above the 20-day moving average crossing at 3558.39 are needed to confirm that a low has been posted. If June renews the decline off March's high, the 38% retracement level of the 2013-2014-rally crossing at 3345.52 is the next downside target. First resistance is the 20-day moving average crossing at 3558.39. Second resistance is the reaction high crossing at 3599.50. First support is Tuesday's low crossing at 3404.75. Second support is the 38% retracement level of the 2013-2014-rally crossing at 3345.52.

The June S&P 500 closed higher on Thursday as it extends this week's breakout above the 20-day moving average crossing at 1851.60 confirming that a low has been posted. Today's high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If June extends this week's rally the reaction high crossing at 1867.10 is the next upside target. If June renews this month's decline, the 62% retracement level of the February-April-rally crossing at 1789.26 is the next downside target. First resistance is the reaction high crossing at 1867.10. Second resistance is April's high crossing at 1892.00. First support is Monday's low crossing at 1803.60. Second support is the 62% retracement level of the February-April-rally crossing at 1789.26.

The Dow closed slightly lower on Thursday as it consolidates some of this week's rally. The mid-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If The Dow extends this week's rally, April's high crossing at 16,631.63 is the next upside target. If the Dow renews the decline off last Friday's high, the 50% retracement level of the February-April-rally crossing at 15,987.04 is the next downside target. First resistance today's high crossing at 16,460.49. Second resistance is April's high crossing at 16,631.63. First support is the 50% retracement level of the February-April-rally crossing at 15,987.04. Second support is the 62% retracement level of the February-April-rally crossing at 15,834.22.

INO.com on Facebook INO.com MarketClub on Twitter INO.com on Google+ INO.com YouTube

© Copyright INO.com, Inc. All Rights Reserved.