E X T R E M E M A R K E T C O M M E N T A R Y _____________________________________________________________________
The STOCK INDEXES http://quotes.ino.com/exchanges/?c=indexes The March NASDAQ 100 closed lower on Friday as it consolidated some of the short covering rally of the past two trading days. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI have turned bullish signaling that sideways to higher prices are possible near-term. Closes above the 10-day moving average crossing at 1862.10 are needed to confirm that a short-term low has been posted. If March renews this month's decline, weekly support crossing at 1638.00 is the next downside target. The March S&P 500 index closed lower on Friday due to profit taking as it consolidated some of the past two-days gains. Today's low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are bullish signaling that sideways to higher prices are possible near-term. Closes above the 10-day moving average crossing at 1359.37 are needed to confirm that a low has been posted. If March renews this month's decline, monthly support crossing at 1229.20 is the next downside target. The Dow closed sharply lower on Friday as it consolidated some of the markets gains of the past two trading sessions. The low- range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain bullish signaling that sideways to higher prices are possible near-term. Closes above the 20-day moving average crossing at 12,666 are needed to confirm that a short-term low has been posted. If the Dow extends the decline off December's high, monthly support crossing at 11,524 is the next downside target. --------------------------------- Never miss a thing. Make Yahoo your homepage.
