U.S. STOCK INDEXES The Dow closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices remain possible near-term. If the Dow extends this month's rally into uncharted territory, upside targets will be hard to project. Closes below last-Thursday's low crossing at 28,902.13 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at 29,933.83. Second resistance is unknown. First support is last-Thursday's low crossing at 28,902.13. Second support is the 20-day moving average crossing at 26,416.65. The December NASDAQ 100 closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are neutral signaling that sideways trading is possible near-term. If December renews the rally off November's low. September's high crossing at 12,465.25 is the next upside target. Closes below the 50-day moving average crossing at 11,546.82 are needed to confirm that a short-term top has been posted. First resistance is November's high crossing at 12,408.75. Second resistance is September's high crossing at 12,465.25. First support is the 50-day moving average crossing at 11,546.82. Second support is November's low crossing at 10,942.25. The December S&P 500 closed lower on Friday. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below last-Monday's gap crossing at 3502.70 are needed to confirm that a short-term top has been posted. If December extends the rally off November's low into uncharted territory, upside targets will be hard to project. First resistance is November's high crossing at 3658.40. Second resistance is unknown. First support is last-Monday's gap crossing at 3502.70. Second support is the 20-day moving average crossing at 3465.16.
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