The March NASDAQ 100 closed higher on Tuesday as it extends this winter’s rally. The high-range close sets the stage for a steady to higher opening on Wednesday. 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 rally off November’s low, the 38% retracement level of the 2000-2002-decline crossing at 2358.54 is the next upside target. Closes below the 20-day moving average crossing at 2262.72 are needed to confirm that a short-term top has been posted. First resistance is today’s high crossing at 2327.00. Second resistance is the 38% retracement level of the 2000-2002-decline crossing at 2358.54. First support is the 10-day moving average crossing at 2293.25. Second support is the 20-day moving average crossing at 2262.72.
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The March S&P 500 index closed higher on Tuesday as it extends this winter’s rally. The high-range close sets the stage for a steady to higher opening on Wednesday. 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 winter’s rally, weekly resistance crossing at 1313.30 is the next upside target. Closes below the 20-day moving average crossing at 1264.54 are needed to confirm that a short-term top has been posted. First resistance is today’s high crossing at 1293.00. Second resistance is weekly resistance crossing at 1313.30. First support is the 20-day moving average crossing at 1264.54. Second support is the reaction low crossing at 1245.70.
The Dow closed higher on Tuesday as it extends this winter’s rally. The higher-range close sets the stage for a steady to higher opening on Wednesday. Stochastics and the RSI are diverging but are bullish signaling that sideways to higher prices are possible near-term. If the Dow extends this winter’s rally, the August 2008 high crossing at 11,867 is the next upside target. Closes below the 20-day moving average crossing at 11,644 are needed to confirm that a short-term top has been posted. First resistance is today’s high crossing at 11,858. Second resistance is the August 2008 high crossing at 11,867. First support is the 20-day moving average crossing at 11,644. Second support is the reaction low crossing at 11,573.
