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U.S. STOCK INDEXES

The December NASDAQ 100 was lower overnight and sets the stage a lower opening when the day session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 15,807.33 would signal that a short-term top has been posted. If December extends the rally off October's low, July's high crossing at 16,264.25 is the next upside target. First resistance is last-Wednesday's high crossing at 16,208.50. Second is July's high crossing at 16,264.25. First support is the 20-day moving average crossing at 15,807.33. Second support is the 50-day moving average crossing at 15,251.32.

The December S&P 500 was lower overnight and sets the stage for a lower opening when the day 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, the 87% retracement level of the July-October decline crossing at 4612.32 is the next upside target. Closes below the 20-day moving average crossing at 4508.75 would signal that a short-term top has been posted. First resistance is September's high crossing at 4597.50. Second resistance is the 87% retracement level of the July-October decline crossing at 4612.32. First support is the 10-day moving average crossing at 4569.60. Second support is the 20-day moving average crossing at 4508.75.

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