U.S. STOCK INDEXES The Dow closed lower on Monday as worries about the rising spread of COVID-19 and concern over global political developments led to profit taking. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below the November 12th low crossing at 28,902.13 would confirm that a short-term top has been posted. First resistance is today's high crossing at 30,233.03. Second resistance is unknown. First support is the 20-day moving average crossing at 29,672.25. Second support is the November 12th low crossing at 28,902.13. The March NASDAQ 100 closed higher on Monday as it extends the rally off November's low. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. 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 into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 12,105.05 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 12,609.00. Second resistance is unknown. First support is the 10-day moving average crossing at 12,322.63. Second support is the 20-day moving average crossing at 12,105.05. The March S&P 500 closed slightly lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. 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 into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 3590.49 would confirm that a short-term top has been posted. First resistance is today's high crossing at 3697.41. Second resistance is unknown. First support is the 20-day moving average crossing at 3590.49. Second support is the 50-day moving average crossing at 3469.49. 
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