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The September NASDAQ 100 closed sharply lower on Friday as the trade war between the U.S. and China ratcheted up. 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 with today's sharp decline signaling that sideways to lower prices are possible near-term. If September renews the decline off July's high, the 87% retracement level of the June-July-rally crossing at 7107.06 is the next downside target. Closes above the 50-day moving average crossing at 7761.51 would confirm that a short-term low has been posted while opening the door for additional gains near-term. First resistance is the 50-day moving average crossing at 7761.51. Second resistance is July's high crossing at 8051.75. First support is the 75% retracement level of the June-July-rally crossing at 7237.04. Second support is the 87% retracement level of the June-July-rally crossing at 7107.06.

The September S&P 500 closed sharply lower 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 turning neutral to bearish signaling that sideways to lower prices are possible near-term. If September renews the decline off July's high, June's low crossing at 2737.00 is the next downside target. If September extends the rally off the mid-August low, the 50-day moving average crossing at 2948.67 is the next upside target. First resistance is the 50-day moving average crossing at 2948.67. 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.

The Dow posted the largest signal day loss of the year on Friday as the trade war between the U.S. and China heats up. 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 sideways to lower prices are possible near-term. If the Dow resumes the decline off July's high, the 87% retracement level of the June-July-rally crossing at 25,034.74 is the next downside target. Closes above the 50-day moving average crossing at 26,606.76 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 26,203.83. Second resistance is the 50-day moving average crossing at 26,606.76. First support is the 75% retracement level of the June-July-rally crossing at 25,362.34. Second support is the 87% retracement level of the June-July-rally crossing at 25,034.74.