U.S. STOCK INDEXES The Dow closed lower on Tuesday ending a six-day rally. The low-range close sets the stage for a steady to lower opening when Wednesday'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 the Dow extends the rally off March's low, the 87% retracement level of the February-March-decline crossing at 28,090.29 is the next upside target. Closes below last-Friday's gap crossing at 26,384.10 would signal that a short-term top has been posted. First resistance is the 87% retracement level of the February-March-decline crossing at 28,090.29. Second resistance is January's high crossing at 29,568.57. First support is last-Friday's gap crossing at 26,384.10. Second support is the 20-day moving average crossing at 25,186.20. The June NASDAQ 100 closed higher on Tuesday as it extended the rally off March's low into record high territory. 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 overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March's low into uncharted territory, upside targets will be hard to project. Closes below the 20-day moving average crossing at 9464.41 would confirm that a short-term top has been posted. First resistance is today's high crossing at 10,005.25. Second resistance is unknown. First support is the 20-day moving average crossing at 9464.41. Second support is the May 27th low crossing at 9172.50. The June S&P 500 closed lower on Tuesday as it consolidates some of the rally off March's low. The low-range close sets the stage for a steady to lower opening when Wednesday'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 March's low, the 87% retracement level of the February-March-decline crossing at 3257.79 is the next upside target. Closes below the 20-day moving average crossing at 3008.86 would signal that a short-term top has been posted. First resistance is Monday's high crossing at 3227.50. Second resistance is the 87% retracement level of the February-March-decline crossing at 3257.79. First support is the 10-day moving average crossing at 3109.93. Second support is the 20-day moving average crossing at 3008.86.
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