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The March NASDAQ 100 closed higher on Friday as it extends the rally off December's low. the Nasdaq posted its eighth week of gains off December's low, as investors focused on continued progress in trade negotiations between China and the U.S. Expectation for talks to continue next week in Washington has added fresh hope that a resolution was near, even if the parties appeared far apart on key points. The high-range close sets the stage for a steady to higher opening when Tuesday'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 December's low, December's high crossing at 7169.00 is the next upside target. Closes below the 20-day moving average crossing at 6871.66 are needed to confirm that a short-term top has been posted. First resistance is December's high crossing at 7169.00. Second resistance is the 75% retracement level of the October-December-decline crossing at 7280.27. First support is the 20-day moving average crossing at 6871.66. Second support is the 50-day moving average crossing at 6652.11.

The March S&P 500 closed higher on Friday as it extends the rally off December's low. The high-range close sets the stage for a steady to higher opening when Tuesday'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 December's low, the 75% retracement level of the September-December-decline crossing at 2789.62 is the next upside target. Closes below the 20-day moving average crossing at 2696.94 would confirm that a short-term top has been posted. First resistance is the 75% retracement level of the September-December-decline crossing at 2789.62. Second resistance is the 87% retracement level of the September-December-decline crossing at 2865.28. First support is the 20-day moving average crossing at 2696.94. Second support is the 50-day moving average crossing at 2615.43.

The Dow closed sharply higher on Friday as it extended the rally off December's low for the eighth week in a row. Optimism over U.S.-China trade talks and the signing of a deal to avoid a government shutdown underpinned today's rally in the Dow. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends the rally off December's low, December's high crossing at 25,980.21 is the next upside target. Closes below the 20-day moving average crossing at 25,038.11 would confirm that a short-term top has been posted. First resistance is December's high crossing at 25,980.21. Second resistance is the 87% retracement level of the October-December-decline crossing at 26,271.97. First support is the 20-day moving average crossing at 25,038.11. Second support is the 50-day moving average crossing at 24,249.10.

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