S&P 500
1984.58
+10.95 +0.55%
Dow Indu
17123.47
+71.74 +0.42%
Nasdaq
4457.53
+32.83 +0.74%
Crude Oil
102.31
-0.55 -0.54%
Gold
1306.715
-6.085 -0.46%
Euro
1.346900
-0.005700 -0.42%
US Dollar
80.779
+0.217 +0.28%
Strong

Market Commentary

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U.S. STOCK INDEXES

The September NASDAQ 100 was higher overnight as it extends this summer's rally. Stochastics and the RSI are overbought, diverging but are neutral to bullish signaling that additional gains are possible near-term. If September extends the rally off April's low, monthly resistance crossing at 4258.97 is the next upside target. Closes below last Friday's low crossing at 3854.00 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 3942.25. Second resistance is monthly resistance crossing at 4258.97. First support is last Friday's low crossing at 3854.00. Second support is the reaction low crossing at 3831.50.

The September S&P 500 was higher overnight while extending this month's trading range. Stochastics and the RSI have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If September renews this year's rally into uncharted territory, upside targets will be hard to project. Closes below the reaction low crossing at 1945.50 would confirm that a short-term top has been posted. First resistance is this month's high crossing at 1978.20. Second resistance is unknown. First support is last Friday's low crossing at 1942.90. Second support is the reaction low crossing at 1936.00.

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