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U.S. STOCK INDEXES

The December NASDAQ 100 was higher overnight as it extended Wednesday's rally. Overnight strength sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 15,143.43 would open the door for a test of the September 27th high crossing at 15,399.25. Closes below Tuesday's low crossing at 14,585.50 would signal that a short-term top has been posted. First resistance is the 50-day moving average crossing at 15,145.02. Second resistance is the September 27th high crossing at 15,399.25. First support is the 25% retracement of the 2020-2021-rally crossing at 14,474.38. Second support is the 38% retracement of the 2020-2021-rally crossing at 13,825.88.

The December S&P 500 was steady to higher overnight as it extends the rally off October's low. Overnight strength sets the stage for a steady to higher opening when the day session begins trading later this morning. Stochastics and the RSI are turning 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 4539.50 is the next upside target. Closes below Tuesday's low crossing at 4317.25 would signal that a short-term low has been posted. First resistance is the September 27th high crossing at 4472.00. Second resistance is September's high crossing at 4539.50. First support is Tuesday's low crossing at 4317.25. Second support is October's low crossing at 4260.00.