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The March NASDAQ 100 closed higher on Friday and above the 50% retracement level of the October-December-decline crossing at 6787.66 as it extends the rally off December'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 December's low, the 62% retracement level of the October-December-decline crossing at 7018.75 is the next upside target. Closes below the 20-day moving average crossing at 6436.40 are needed to confirm that a short-term top has been posted. First resistance is the reaction high crossing at 6897.00. Second resistance is the 62% retracement level of the October-December-decline crossing at 7018.75. First support is the 20-day moving average crossing at 6436.40. Second support is the reaction low crossing at 6136.50.

The March S&P 500 closed higher on Friday as it extends the rally off December'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 December's low, the 62% retracement level of the September-December-decline crossing at 2706.38 is the next upside target. Closes below the 20-day moving average crossing at 2533.25 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 2683.00. Second resistance is the 62% retracement level of the September-December-decline crossing at 2706.38. First support is the 20-day moving average crossing at 2533.25. Second support is the reaction low crossing at 2439.00.

The Dow closed higher on Friday as it extends the rally off December's low. Today's rally was underpinned by reports that raised hopes for progress in trade talks between the U.S. and China. Optimism over a potential bilateral deal helped to offset worries about the prolonged partial government shutdown and mixed corporate results. 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 the Dow extends the rally off December's low, the 62% retracement level of the October-December-decline crossing at 24,965.15 is the next upside target. Closes below the 20-day moving average crossing at 23,469.64 would signal that a short-term top has been posted. First resistance is the 62% retracement level of the October-December-decline crossing at 24,965.15. Second resistance is the 75% retracement level of the October-December-decline crossing at 25,661.68. First support is the 10-day moving average crossing at 24,042.35. Second support is the 20-day moving average crossing at 23,469.58.

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