U.S. STOCK INDEXES The Dow posted its sharpest decline in weeks on Monday as investors facing concerns around the potential for borrowing costs to rise, the spread of COVID-19 and the slow pace of the vaccine roll-out. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the December 21st low crossing at 29,755.53 would confirm that a short-term top has been posted. If the Dow extends last-year's rally into uncharted territory, upside targets will be hard to project. First resistance is today's high crossing at 30,674.25. Second resistance is unknown. First support is the December 21st low crossing at 29,755.53. Second support is the 50-day moving average crossing at 29,346.79. The March NASDAQ 100 posted a key reversal down on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought, diverging and are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the December 21st low crossing at 12,461.00 are needed to confirm that a short-term top has been posted. If March extends the rally off September's low into uncharted territory, upside targets will be hard to project. First resistance is today's high crossing at 12,959.75. Second resistance is unknown. First support is the December 21st low crossing at 12,461.00. Second support is the 50-day moving average crossing at 12,161.41. The March S&P 500 closed sharply lower on Monday. The low-range close sets the stage for a steady to lower 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 November's low into uncharted territory, upside targets will be hard to project. Multiple closes below the reaction low crossing at 3636.00 would confirm that a short-term top has been posted. First resistance is today's high crossing at 3769.90. Second resistance is unknown. First support is the reaction low crossing at 3636.00. Second support is the 50-day moving average crossing at 3573.75. 
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