The S&P 500 index was higher overnight and trading above the 20-day moving average crossing at 919.23.

Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 919.28 are needed to confirm that a short-term low has been posted. If September renews this month’s decline, the reaction low crossing at 874.00 is the next downside target.

First resistance is Tuesday’s high crossing at 926.00. Second resistance is this month’s high crossing at 952.50. First support is the 10-day moving average crossing at 909.46. Second support is last Tuesday’s low crossing at 884.30. The September S&P 500 Index was up 6.20 pts. at 921.70. Overnight action sets the stage for a steady to higher opening by the September S&P 500 index when the day session begins later this morning.

Today’s Economic Data
7:00 a.m. June 26 Mortgage Refinance Application Survey
8:15 a.m. June ADP National Employment Report
10:00 a.m. June ISM Mfg Index
10:00 a.m. June Construction Spending
10:00 a.m. May Pending Home Sales
10:30 a.m. Jun 26 U.S. Energy Dept. Oil Inventories