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U.S. STOCK INDEXES

The March NASDAQ 100 closed higher on Tuesday as it extended the rally off November's low. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 5200.16 would confirm that a short-term top has been posted. First resistance is today's high crossing at 5353.00. Second resistance is unknown. First support is the 10-day moving average crossing at 5262.13. Second support is the 20-day moving average crossing at 5200.16.

The March S&P 500 closed higher on Tuesday and posted a new contract high as it extended this month's rally. Today's rally was underpinned by a rally in 11 of the S&P 500's primary sectors, which was lead by Energy stocks. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends the aforementioned rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 2308.62 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 2363.90. Second resistance is unknown. First support is the 10-day moving average crossing at 2332.90. Second support is the 20-day moving average crossing at 2308.62.

The Dow gapped up and closed at a new record high on Tuesday. Today's rally by the Dow was underpinned by Home Depot Inc. and Wal-Mart Stores Inc., which rallied following bullish quarterly data. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends the rally off November's low into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 20,199.89 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 20,757.64. Second resistance is unknown. First support is the 10-day moving average crossing at 20,408.79. Second support is the 20-day moving average crossing at 20,199.89.

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