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The December NASDAQ 100 closed lower on Friday as it consolidated some of the rally off October's low. The mid-range close sets the stage for a steady 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 December extends the rally off October's low, July's high crossing at 8071.75 is the next upside target. Closes below the 50-day moving average crossing at 7761.86 would confirm that a short-term top has been posted. First resistance is today's high crossing at 7958.75. Second resistance is September's high crossing at 8002.50. First support is the 50-day moving average crossing at 7761.86. First support is October's low crossing at 7474.25. Second support is the August 26th reaction low crossing at 7390.00.

The December S&P 500 closed slightly lower on Friday. The high-range close sets the stage for a steady to higher 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 December extends the rally off October's low, September's high crossing at 3025.30 is the next upside target. Closes below the 50-day moving average crossing at 2946.59 would confirm that a short-term top has been posted. First resistance is today's high crossing at 2998.10. Second resistance is September's high crossing at 3025.30. First support is last-Thursday's low crossing at 2883.90. Second support is October's low crossing at 2856.00.

The Dow closed lower on Friday after data showed China's economic growth slowing further in the third quarter offset a good start to the corporate earnings reporting season. 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 the rally off October's low, September's high crossing at 27,306.73 is the next upside target. Closes below the 50-day moving average crossing at 26,529.86 would confirm that a short-term top has been posted. First resistance is Tuesday's high crossing at 27,120.11. Second resistance is September's high crossing at 27,306.73. First support is the 50-day moving average crossing at 26,529.86. Second support is last-Tuesday's low crossing at 26,139.80.