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U.S. STOCK INDEXES

The June NASDAQ 100 closed lower due to profit taking on Friday. the NASDAQ posted a fresh intra-day record as investors took a cautious stance ahead of the weekend marking President Donald Trump's 100th day in office. 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 are possible near-term. If June extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 5447.84 are needed to confirm that a short-term top has been posted. First resistance is today's high crossing at 5597.75. Second resistance is unknown. First support is the 20-day moving average crossing at 5447.84. Second support is the 50-day moving average crossing at 5402.82.

The June 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above March's high crossing at 2395.00 would mark an upside breakout of a two-month old trading range while renewing the rally off November's low. Closes below the 20-day moving average crossing at 2355.75 would confirm that a short-term top has been posted. First resistance is March's high crossing at 2395.00. Second resistance is unknown. First support is March's low crossing at 2318.00. Second support is the 25% retracement level of the November-March-rally crossing at 2313.96.

The Dow closed slightly lower on Friday. Capping equity gains was a disappointing first-quarter gross domestic product, which showed the slowest pace of growth in 3 years. Meanwhile, the threat of a government shutdown was averted by extending the funding for another week. 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 are possible near-term. If the Dow extends this week's rally, March's high crossing at 21,169.11 is the next upside target. Closes below the 20-day moving average crossing at 20,683.47 would confirm that a short-term top has been posted. First resistance is March's high crossing at 21,169.11. Second resistance is unknown. First support is the 20-day moving average crossing at 20,683.47. Second support is the 25% retracement level of the November-March-rally crossing at 20,356.83.

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