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20975.09
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1267.65
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99.015
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Weak

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U.S. STOCK INDEXES

The June NASDAQ 100 closed lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday'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 June extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below the 50-day moving average crossing at 5391.36 would confirm that a short-term top has been posted. First resistance is today's high crossing at 5562.50. Second resistance is unknown. First support is the 20-day moving average crossing at 5433.57. Second support is the 50-day moving average crossing at 5391.36.

The June S&P 500 closed slightly lower on Wednesday. The low-range close sets the stage for a steady to lower opening when Thursday'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. Closes above March's high crossing at 2395.00 would renew the rally off November's low. Closes below the 10-day moving average crossing at 2352.09 would confirm that a short-term top has been posted. First resistance is March's high crossing at 2395.00. Second resistance is unknown. First support is March's low crossing at 2318.00. Second support is the 25% retracement level of the November-March-rally crossing at 2313.96.

The Dow closed lower on Wednesday as it consolidates some of this week's rally. The Dow retreated from intra-day highs as investors started digesting the unveiling of President Donald Trump's tax-reform plan. The low-range close sets the stage for a steady to lower opening when Thursday'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 this week's rally, March's high crossing at 21,169.11 is the next upside target. Closes below the 10-day moving average crossing at 20,652.10 would confirm that a short-term top has been posted. First resistance is March's high crossing at 21,169.11. Second resistance is unknown. First support is the 10-day moving average crossing at 20,652.10. Second support is the 25% retracement level of the November-March-rally crossing at 20,356.83.

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