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U.S. STOCK INDEXES

The March NASDAQ 100 posted a key reversal down on Friday as it slid to their lowest level of the week on concern the spread of China's coronavirus may disrupt travel and trade and slow global economic growth. At the same time good quarterly earnings reports, especially from Intel Corp. and American Express continue to underpin investor confidence. 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 March extends the rally off last-October's low, upside targets will be hard to project. Closes below the 20-day moving average crossing at 8986.17 would temper the near-term friendly outlook. First resistance is today's high crossing at 9287.25. Second resistance is unknown. First support is the 20-day moving average crossing at 8986.17. Second support is the 50-day moving average crossing at 8657.65.

The March S&P 500 posted a key reversal down on Friday. 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 March extends this year's rally into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 3273.41 would confirm that a short-term top has been posted. First resistance is Wednesday's high crossing at 3334.30. Second resistance is unknown. First support is the 20-day moving average crossing at 3273.41. Second support is the 50-day moving average crossing at 3197.56.

The Dow posted a key reversal down on Friday as concerns over the spread of China's coronavirus may disrupt travel and trade and slow global economic growth. 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 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 28,883.48 are needed to confirm that a short-term top has been posted. If the Dow extends the rally off last-October's low into uncharted territory, upside targets will be hard to project. First resistance is last-Friday's high crossing at 29,373.62. Second resistance is unknown. First support is the 20-day moving average crossing at 28,883.48. Second support is the 50-day moving average crossing at 28,360.43.