U.S. STOCK INDEXES The Dow closed higher on Tuesday following Monday's upside reversal. Today's rally was underpinned by testimony to Congress by Federal Reserve Chairman Jerome Powell who suggested more fiscal stimulus may be needed before the American economy can make a full recovery from the COVID-19 pandemic. Additional support came from today's retail sales and industrial production data which, showed the economy is slowly recovering amid reports of progress in the development of potential therapeutic drugs. The mid-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above last-Thursday's gap crossing at 26,938.05 would temper the near-term bearish outlook. If the Dow extends the decline off June's high, the 50-day moving average crossing at 24,534.51 is the next downside target. First resistance is last-Thursday's gap crossing at 26,938.05. Second resistance is the 87% retracement level of the February-March-decline crossing at 28,090.29. Third resistance is January's high crossing at 29,568.57. First support is Monday's low crossing at 24,843.18. Second support is the 50-day moving average crossing at 24,534.51. The September NASDAQ 100 closed higher on Tuesday as it extends Monday's upside reversal. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If June renews the rally off March's low into uncharted territory, upside targets will be hard to project. Multiple closes below Monday's low crossing at 9368.25 are needed to confirm that a short-term top has been posted. First resistance is last-Wednesday's high crossing at 10,140.00. Second resistance is unknown. First support is Monday's low crossing at 9368.25. Second support is the May 27th low crossing at 9167.00. The September S&P 500 closed sharply higher on Tuesday as it extends the rebound off Monday's low. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Today's close above the 10-day moving average crossing at 3120.73 signals that a short-term low has been posted. If March resumes the decline off June's high, the 50-day moving average crossing at 2912.45 is the next downside target. First resistance is last-Monday's high crossing at 3216.70. Second resistance is the 87% retracement level of the February-March-decline crossing at 3237.65. First support is the 50-day moving average crossing at 2912.45. Second support is the May 13th low crossing at 2804.20. 
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