The September NASDAQ 100 was lower overnight as it extends the trading range of the past three weeks. Stochastics and the RSI are bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 2754.92 would confirm that a short-term top has been posted. If September renews the rally off July's low, monthly resistance crossing at 2847.00 is the next upside target. First resistance is August's high crossing at 2802.50. Second resistance is monthly resistance crossing at 2847.00. First support is the 20-day moving average crossing at 2754.92. Second support is the reaction low crossing at 2702.25.<\/p>\n
The September S&P 500 index was lower overnight as it consolidated some of last Friday's rally. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. Closes below the reaction low crossing at 1395.40 are needed to confirm that a short-term top has been posted and would open the door for additional weakness near-term. If September renews the rally off June's low, weekly resistance crossing at 1472.56 is the next upside target. First resistance is August's high crossing at 1424.60. Second resistance is weekly resistance crossing at 1472.56. First support is the reaction low crossing at 1395.40. Second support is the 25% retracement level of the June-August rally crossing at 1383.92.<\/p>\n
To receive INO.com<\/a>\u2018s Daily Market Analysis & Commentary click here<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The September NASDAQ 100 was lower overnight as it extends the trading range of the past three weeks. Stochastics and the RSI are bearish hinting that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 2754.92 would confirm that a short-term top has been posted. If September […]<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[4462,4429],"class_list":["post-15913","post","type-post","status-publish","format-standard","hentry","category-general","tag-market-commentary","tag-morning-commentary"],"yoast_head":"\n