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The March NASDAQ 100 was higher overnight. The mid-range trade sets the stage for a steady to higher opening when the day session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 13,454.31 would signal that a short-term low has been posted. If March extends the decline off February's high, January's low crossing at 12,491.25 is the next downside target. First resistance is the 20-day moving average crossing at 13,454.31. Second resistance is February's high crossing at 13,900.50. First support is January's low crossing at 12,491.25. Second support is the December 10th low crossing at 12,217.00.

The March 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 have turned neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above last-Thursday's high crossing at 3934.50 are needed to confirm that a short-term low has been posted. Closes below the 50-day moving average crossing at 3813.12 would open the door for additional weakness and a possible test of February's low crossing at 3656.50. First resistance is last-Thursday's high crossing at 3934.50. Second resistance is February's high crossing at 3959.25. First support is the 50-day moving average crossing at 3813.12. Second support is February's low crossing at 3656.50.