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U.S. STOCK INDEXES

The June NASDAQ 100 was lower overnight as it consolidates some of the rally off December's low. The low-range overnight trade sets the stage for a steady to 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 June extends the rally off December's low, last-October's high crossing at 7767.00 is the next upside target. Closes below the 20-day moving average crossing at 7557.95 would confirm that a short-term top has been posted. First resistance is last-Wednesday's high crossing at 7733.50. Second resistance is the October 3rd 2018 high crossing at 7767.00. First support is the 20-day moving average crossing at 7557.95. Second support is the 50-day moving average low crossing at 7328.30.

The June S&P 500 was lower overnight as it consolidates some of the rally off December's low. The low-range overnight trade sets the stage for a steady to lower opening when the day session begins trading later this morning. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 2876.02 would confirm that a short-term top has been posted. If June extends the rally off December's low, last-September high crossing at 2957.90 is the next upside target. First resistance is Wednesday's high crossing at 2922.50. Second resistance is last-September's high crossing at 2957.90. First support is the 20-day moving average crossing at 2876.02. Second support is the 50-day moving average crossing at 2824.54.