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U.S. STOCK INDEXES

The June NASDAQ 100 closed sharply lower on Friday as it consolidated some of the rally off April'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 overbought and are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 6615.98 are needed to confirm that a short-term top has been posted. If June extends the rally off April's low, the reaction high crossing at 6951.00 is the next upside target. First resistance is the reaction high crossing at 6951.00. Second resistance is March's high crossing at 7214.50. First support is the 20-day moving average crossing at 6615.98. Second support is April's low crossing at 6306.75.

The June S&P 500 closed sharply lower on Friday as it consolidates some of the rally off April'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 overbought and are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 2645.80 are needed to confirm that a short-term top has been posted. If June extends the rally off April's low, the reaction high crossing at 2741.00 is the next upside target. First resistance is the reaction high crossing at 2741.00. Second resistance is March's high crossing at 2806.00. First support is the 20-day moving average crossing at 2645.80. Second support is April's low crossing at 2554.00.

The Dow closed lower on Friday as it consolidated some of the rally off April's low. U.S. stocks fell today as weakness in both energy and technology stocks offset the latest batch of corporate earnings, which continued to largely beat expectations. 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 24,230.24 would confirm that a short-term top has been posted. If the Dow extends the rally off April's low, the reaction high crossing at 24,977.65 is the next upside target. First resistance is the reaction high crossing at 24,977.65. Second resistance is March's high crossing at 25,449.15. First support is the 20-day moving average crossing at 24,230.24. Second support is April's low crossing at 23,344.52.

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