The September NASDAQ 100 closed sharply lower on Friday as it consolidated some of the rally off last week's low. The low-range close sets the stage for a steady to lower opening when Monday's night session begins trading. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. Continue reading "Friday Evening Commentary for the Indexes"
Tag: Daily Market Analysis & Commentary
Morning Commentary for the Precious Metals
August gold closed higher due to short covering on Monday as it consolidated some of last Friday's decline. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If August renews the decline off June's high, May's low crossing at 1529.30 is the next downside target. If August renews the rally off June's low, June's high crossing at 1642.40 is the next upside target. First resistance is June's high crossing at 1642.40. Second resistance is reaction high crossing at 1674.30. First support is June's low crossing at 1547.60. Second support is May's low crossing at 1529.30. Continue reading "Morning Commentary for the Precious Metals"
Stock Indexes Morning Report
The September NASDAQ 100 was lower due to light profit taking overnight as it consolidated some of last Friday's rally. Stochastics and the RSI are turning bullish signaling that sideways to higher prices are possible near-term. Closes above June's high crossing at 2628.25 are needed to renew the rally off June's low. Closes below the 20-day moving average crossing at 2555.68 would temper the near-term friendly outlook. First resistance is June's high crossing at 2628.25. Second resistance is the reaction high crossing at 2639.75. First support is the 20-day moving average crossing at 2555.68. Second support is last Thursday's low crossing at 2503.50. Continue reading "Stock Indexes Morning Report"
Stock Indexes Morning Report
The September NASDAQ 100 closed sharply lower on Thursday as it extended the decline off this month's high. The low-range close sets the stage for a steady to lower opening when Friday's night session begins trading. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If September extends the decline off last week's high, June's low crossing at 2418.25 is the next downside target. Closes above the 10-day moving average crossing at 2564.62 would temper the near-term bearish outlook. Closes above last week's high crossing at 2628.25 are needed to renew this month's rally. First resistance is this month's high crossing at 2628.25. Second resistance is the reaction high crossing at 2639.75. First support is today's low crossing at 2503.50. Second support is this month's low crossing at 2418.25. Continue reading "Stock Indexes Morning Report"
