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U.S. STOCK INDEXES

The June NASDAQ 100 closed lower on Friday following news that the Republicans do not have the votes to repeal Obama care. 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 bullish hinting that sideways to higher prices are possible near-term. If June renews this winter's rally into uncharted territory, upside targets will be hard to project. If June resumes the decline off Tuesday's high, the 50-day moving average crossing at 5257.56 is the next downside target. First resistance is Tuesday's high crossing at 5441.00. Second resistance is unknown. First support is Wednesday's low crossing at 5315.00. Second support is the 50-day moving average crossing at 5257.56.

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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If March extends this week's decline, the 50-day moving average crossing at 2323.52 is the next downside target. If June resumes this winter's rally, March's high crossing at 2395.00 is the next upside target. First resistance is March's high crossing at 2395.00. Second resistance is unknown. First support is Wednesday's low crossing at 2332.80. Second support is the 50-day moving average crossing at 2323.52.

The Dow closed lower on Friday as investors grew anxious about a pending House vote on a key health-care legislation. The Dow turned lower on reports that the House Speaker Paul Ryan went to the White House to meet with President Donald Trump, which was being interpreted by some as a bad sign for the passage of the bill. Losses accelerated into the close when it became apparent that the Republicans did not have the votes to repeal Obama care. 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 oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If the Dow extends this week's decline, the 50-day moving average crossing at 20,449.87 is the next downside target. If the Dow renews this winter's rally, March's high crossing at 21,161.72 is the next upside target. First resistance is March's high crossing at 21,161.72. Second resistance is unknown. First support is Wednesday's low crossing at 20,578.95. Second support is the 25% retracement level of the November-March-rally crossing at 20,356.83.

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