U.S. STOCK INDEXESThe March NASDAQ 100 closed lower on Friday as it consolidated some of this week's rally. The mid-range close sets the stage for a steady opening when Monday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this week's rally, December's high crossing at 4322.00 is the next upside target. If March resumes the decline off December's high, the 50% retracement level of the October-December-rally crossing at 4016.35 is the next downside target. First resistance is December's higher crossing at 4322.00. Second resistance is November's high crossing at 4342.00. First support is the 38% retracement level of the October-December-rally crossing at 4094.11. Second support is the 50% retracement level of the October-December-rally crossing at 4016.35. The March S&P 500 closed lower on Friday as it consolidated some of the rally off Tuesday'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 have turned neutral to bullish signaling that sideways to higher prices are possible near-term. If March extends this week's rally, December's high crossing at 2088.70 is the next upside target. If March renews the decline off December's high, the 50% retracement level of the October-December-rally crossing at 1964.10 is the next downside target. First resistance is today's high crossing at 2061.20. Second resistance is December's high crossing at 2088.70. First support is the 38% retracement level of the October-December-rally crossing at 1993.71. Second support is the 50% retracement level of the October-December-rally crossing at 1964.10. The Dow closed lower due to profit taking on Friday. Today's low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If the Dow extends this week's rally, December's high crossing at 18,103.45 is the next upside target. If the Dow renews the decline off December's high, the 50% retracement level of the October-December-rally crossing at 16,979.80 is the next downside target. First resistance is Thursday's high crossing at 17,916.04. Second resistance is December's high crossing at 18,103.45. First support is the 38% retracement level of the October-December-rally crossing at 17,245.41. Second support is December's low crossing at 17,067.59.
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