S&P 500
2146.10
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Dow Indu
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Weak

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U.S. STOCK INDEXES

The December NASDAQ 100 closed lower on Monday as investors wait the first U.S. presidential debate while worries over Germany's Deutsche Bank weighed on the financial sector. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought and are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 4791.96 are needed to confirm that a short-term top has been posted. If December extends this month's rally into uncharted territory upside targets will be hard to project. First resistance is last Thursday's high crossing at 4892.25. Second resistance is unknown. First support is the 20-day moving average crossing at 4791.96. Second support is September's low crossing at 4625.25.

The December S&P 500 closed lower on Monday as it consolidates some of the rally off September's low. The low-range close sets the stage for a steady to lower 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. Closes below last Wednesday's low crossing at 2127.00 would confirm that a short-term top has been posted. If December resumes the rally off September's low, August's high crossing at 2181.00 is the next upside target. First resistance is last Thursday's high crossing at 2172.00. Second resistance is August's high crossing at 2181.00. First support is September's low crossing at 2100.30. Second support is the 25% retracement level of the February-August-rally crossing at 2085.82.

The Dow gapped down and closed below last Wednesday's low crossing at 18,121.57 on Monday confirming that a short-term top has been posted. The low-range close sets the stage for a steady to lower 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 the Dow renews the decline off August's high, the 25% retracement level of the 2015-2016-rally crossing at 17,850.91 is the next downside target. Closes above last Thursday's high crossing at 18,449.88 would renew the rally off September's low while opening the door for a possible test of September's high crossing at 18,551.54. First resistance is September's high crossing at 18,551.54. Second resistance is August's high crossing at 18,668.44. First support is September's low crossing at 17,994.84. Second support is the 25% retracement level of the 2015-2016-rally crossing at 17,850.91.

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