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Indexes Snapshot
Symbol Last Change %
DJ 30 INDUSTRIALS 23346.46 +660.24 +2.69%
NASDAQ COMPOSITE INDEX (COMBINED) 6705.53 +242.03 +3.33%
S&P 500 CASH 2522.04 +74.15 +2.80%
SPDR S&P 500 251.455 +7.245 +2.64%
iShares Russell 2000 ETF 137.020 +4.770 +3.14%
U.S. STOCK INDEXES https://quotes.ino.com/ex?changes/?c=indexes

The March NASDAQ 100 was sharply higher in overnight trading erasing all of Thursday's losses. The overnight rally was underpinned by news that both the U.S. and China may soon renew talks to resolve the trade differences between both countries. Stochastics and the RSI are turning neutral to bearish signaling that the rebound off the late-December low might have come to an end. If March renews the decline off December's high, weekly support crossing at 5752.25 is the next downside target. Closes above the 20-day moving average crossing at 6432.76 are needed to confirm that a low has been posted. First resistance is the 20-day moving average crossing at 6432.76. Second resistance is the 50-day moving average crossing at 6709.72. First support is December's low crossing at 5820.50. Second support is weekly support crossing at 5752.25.

The March S&P 500 was sharply higher overnight erasing much of Thursday's losses on news that both the U.S. and China might soon renew talks to resolve trade differences between the two countries. Stochastics and the RSI are turning neutral signaling that the rally off December's low appears to be staling out. If March renews the decline off December's high, the 38% retracement level of the 2008-2018 rally on the monthly continuation chart crossing at 2076.04 is the next downside target. Closes above the 20-day moving average crossing at 2537.58 are needed to confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 2537.58. Second resistance is the 50-day moving average crossing at 2647.83. First support is December's low crossing at 2317.70. Second support is the 38% retracement level of the 2008-2018 rally on the monthly continuation chart crossing at 2076.04.



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