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The Dow closed slightly lower on Friday as it sags ahead of Memorial Day weekend as investors watch China-U.S. Tensions. The high-range close that 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 the Dow extends the rally off March's low, the 62% retracement level of the February-March-decline crossing at 25,199.76 is the next upside target. Closes below the 20-day moving average crossing at 24,062.75 would signal that a short-term top has been posted. First resistance is April's high crossing at 24,764.77. Second resistance is the 62% retracement level of the February-March-decline crossing at 25,199.76. First support is the 20-day moving average crossing at 24,062.75. Second support is the 50-day moving average crossing at 22,918.58.
The June NASDAQ 100 closed slightly higher on Friday. The high-range close sets the stage for a steady to higher 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 June extends the rally off March's low, February's high crossing at 9780.50 is the next upside target. Closes below the 20-day moving average crossing at 9082.23 would confirm that a short-term top has been posted. First resistance is Thursday's high crossing at 9510.75. Second resistance is February's high crossing at 9780.50. First support is the 20-day moving average crossing at 9082.23. Second support is last-Thursday's low crossing at 8847.00. Second support is the May 4th low crossing at 8556.25.
The June S&P 500 closed slightly higher on Friday. The high-range close sets the stage for a steady to higher 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 March's low, the 75% retracement level of the February-March-decline crossing at 3085.85 is the next upside target. Closes below May's low crossing at 2775.40 are needed to confirm a downside breakout of the April-May trading range. First resistance is Thursday's high crossing at 2971.50. Second resistance is the 75% retracement level of the February-March-decline crossing at 3085.85. First support is last-Thursday's low crossing at 2780.70. Second support is May's low crossing at 2775.40.