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U.S. STOCK INDEXES

The September NASDAQ 100 was higher overnight as it extends the rally off last-Thursday's low. The high-range overnight trade 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 7757.93 would open the door for additional gains off August's low and a possible run at July's high of 8151.75. If September resumes the decline off July's high, the 87% retracement level of the June-July-rally crossing at 7107.06 is the next downside target. First resistance is the 50-day moving average crossing at 7757.93. Second resistance is July's high crossing at 8151.75. First support is last-Thursday's low crossing at 7388.25. Second support is the 75% retracement level of the June-July-rally crossing at 7237.04.

The September S&P 500 was higher overnight. The high-range overnight trade sets the stage for a steady to higher opening when the day session begins trading later this morning. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off last-Thursday's low, the 50-day moving average crossing at 2948.65 is the next upside target. If September renews the decline off July's high, June's low crossing at 2737.00 is the next downside target. First resistance is the 50-day moving average crossing at 2948.65. Second resistance is July's high crossing at 3029.00. First support is last-Thursday's low crossing at 2819.30. Second support is the 87% retracement level of the June-July-rally crossing at 2774.78.