S&P 500
2076.78
-0.64 -0.03%
Dow Indu
17730.11
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Nasdaq
5013.68
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Crude Oil
55.82
-1.11 -1.96%
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1167.835
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Euro
1.110100
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US Dollar
95.976
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Weak

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The September NASDAQ 100 closed lower on Thursday ending a two-day bounce off Monday's low. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends Monday's decline, May's low crossing at 4340.00 is the next downside target. Closes above the 10-day moving average crossing at 4468.85 would confirm that a short-term low has been posted. First resistance is Monday's gap crossing at 4459.75. Second resistance is the 10-day moving average crossing at 4468.85. First support is Monday's low crossing at 4382.50. Second support is May's low crossing at 4340.00.

The September S&P 500 closed lower on Thursday ending a two-day correction off Monday's low. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are becoming oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends Monday's decline, March's low crossing at 2025.10 is the next downside target. Closes above the 20-day moving average crossing at 2086.81 would confirm that a short-term low has been posted. First resistance is Monday's gap crossing at 2086.50. Second resistance is June's high crossing at 2121.30. First support is Tuesday's low crossing at 2047.50. Second support is March's low crossing at 2025.10.

The Dow closed lower on Thursday as it extends the decline off June's high as investors weighed a soft jobs report. Additional pressure came from ongoing uncertainty over Greece, which is due to vote on the country's status as a eurozone member. So far, the lackluster employment report was the focus after the jobs report was released on Thursday, instead of Friday, in observance of the July Fourth holiday. Government data for June showed the economy added 223,000 new jobs, which was in line with forecasts by economists. However, May and April numbers were reduced. The unemployment rated ticked down to 5.3%, but mostly due to more people leaving the labor force. Separately, weekly jobless claims climbed 10,000 to 281,000. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If the Dow extends the decline off May's high, February's low crossing at 17,037.76 is the next downside target. Closes above the 20-day moving average crossing at 17,891.38 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 17,891.38. Second resistance is June's high crossing at 18,188.81. First support is Tuesday's low crossing at 17,576.50. Second support is February's low crossing at 17,037.76.

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