"The June NASDAQ 100 closed higher due to short covering on Monday as it consolidates some of last week's decline. Today's high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that additional weakness is possible near-term. If June extends last week's decline, the reaction low crossing at 3591.50 is the next downside target. Closes above the 10-day moving average crossing at 3685.32 would temper the near-term bearish outlook. First resistance is the 10-day moving average crossing at 3685.32. Second resistance is March's high crossing at 3733.25. First support is the reaction low crossing at 3591.50. Second support is February's low crossing at 3408.00.
The June S&P 500 posted a key reversal up on Tuesday as it consolidated some of the decline off this month's high. The high-range close sets the stage for a steady to higher opening when Tuesday'snight session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends last week's decline, the 38% retracement level of the February-March rally crossing at 1819.76 is the next downside target. Closes above the 10-day moving average crossing at 1858.38 would confirm that a low has been posted. First resistance is the 10-day moving average crossing at 1858.38. Second resistance is March's high crossing at 1877.20. First support is the 38% retracement level of the February-March rally crossing at 1819.76. Second support is the 50% retracement level of the February-March rally crossing at 1801.81.
The Dow closed sharply higher on Monday as it consolidates some of last week's decline. The high-range close sets the stage for a steady to higher opening on Tuesday. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If the Dow extends last week's decline, the reaction low crossing at 16,071.25 is the next downside target. Closes above last Thursday's high crossing at 16,405.07 would temper the near-term bearish outlook. First resistance is last Thursday's high crossing at 16,405.07. Second resistance is March's high crossing at 16,505.70. First support is last Friday's low crossing at 16,059.63. Second support is the reaction low crossing at 16,006.59".
Source:INO.com
