US Stock Indexes

By ino.com

Morning Market Report – US Stock Market

us stock marketThe September NASDAQ 100 closed lower on Monday. The mid-range close sets the stage for a steady opening when Tuesday’s night session begins trading. Stochastics and the RSI are diverging and turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 4767.05 are needed to confirm that a short-term top has been posted. If September resumes this summer’s rally, the all-time high crossing at 4884.00 is the next upside target. First resistance is last Monday’s high crossing at 4835.25. Second resistance is the all-time high crossing at 4884.00. First support is the 20-day moving average crossing at 4767.05. Second support is the reaction low crossing at 4681.75.

The September S&P 500 closed slightly lower on Monday. 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 diverging and turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 2172.12 would confirm that a short-term top has been posted. If September resumes this summer’s rally into uncharted territory, upside targets will be hard to project. First resistance is last Monday’s high crossing at 2190.70. Second resistance is unknown. First support is the 20-day moving average crossing at 2172.12. Second support is August’s low crossing at 2142.00.

The Dow closed lower on Monday as investors turned cautious ahead of a speech by Federal Reserve Chairwoman Janet Yellen at the end of the week, awaiting more clues on the central bank’s monetary policy stance. The mid-range close sets the stage for a steady opening when Tuesday’s night session begins trading. Stochastics and the RSI are turning neutral to bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 18,499.44 would confirm that a short-term top has been posted. If the Dow extends the rally off June’s low into uncharted territory, upside targets will be hard to project. First resistance is last Monday’s high crossing at 18,668.44. Second resistance is unknown. First support is the 20-day moving average crossing at 18,499.44. Second support is August’s low crossing at 18,247.79.

Sign up for your free daily report on Stock Markets, Bonds, Commodities, Precious Metals, Energy, Currencies and more, delivered right to your inbox.

Subscribe to NFTRH Premium for an in-depth weekly market report, interim updates and NFTRH+ chart and trade ideas; or the free eLetter for an introduction to our work. You can also keep up to date with plenty of actionable public content at NFTRH.com. Or follow via Twitter @BiiwiiNFTRH, StockTwits or RSS. Also check out the quality market writers at Biiwii.com.