The NASDAQ 100 closed higher on Friday as it posted a new high for the year. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. If September extends today’s rally, the 75% retracement level of the 2008-2009 decline crossing at 1761.87 is the next upside target. Closes below Monday’s low crossing at 1561.25 are needed to confirm that a top has been posted. First resistance is today’s high crossing at 1639.75. Second resistance is the 75% retracement level of the 2008-2009-decline crossing at 1761.87. First support is Monday’s low crossing at 1561.25.
The S&P 500 index closed higher on Friday and posted a new high for the year as it renewed the rally off March’s low. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term. If September extends today’s rally, the 38% retracement level of the 2008-2009-decline crossing at 1044.11 is the next upside target. Closes below Monday’s low crossing at 975.80 are needed to confirm that a short-term top has been posted. First resistance is today’s high crossing at 1025.00. Second resistance is the 38% retracement level of the 2008-2009-decline crossing at 1044.11. First support is the 20-day moving average crossing at 995.95. Second support is Monday’s low crossing at 975.80.
The Dow closed higher on Friday and posted a new high for the year. The high-range close sets the stage for a steady to higher opening on Monday. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term. If the Dow extends today’s rally, weekly resistance crossing at 9653 is the next upside target. Closes below Monday’s low crossing at 9116 would confirm that a short-term top has been posted. First resistance is today’s high crossing at 9505. Second resistance is weekly resistance crossing at 9653. First support is the 20-day moving average crossing at 9262. Second support is Monday’s low crossing at 9116.
