The Market Club Updates
KEY EVENTS TO WATCH FOR:
Monday, June 22, 2009
N/A No major economic indicators scheduled.
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THE STOCK INDEXES
The September NASDAQ 100 was lower overnight due to profit taking as it extends last week’s trading range. Stochastics and the RSI remain bearish signaling that sideways to lower prices are possible near-term. If September extends last week’s decline, the 25% retracement level of this spring’s rally crossing at 1399.87 is the next downside target. First resistance is the 10-day moving average crossing at 1469.07. Second resistance is the reaction high crossing at 1517.75. First support is last Wednesday’s low crossing at 1437.75. Second support is the 25% retracement level crossing at 1399.87. The September NASDAQ 100 was down 12.25 pts. at 1451.75 as of 5:55 AM CST. Overnight action sets the stage for a lower opening by June NASDAQ 100 when the day session begins later this morning.
The September S&P 500 index was lower overnight as it consolidates below the 20-day moving average. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If September extends last week’s decline, the reaction low crossing at 873.10 is the next downside target. Closes above the 10-day moving average crossing at 922.11 would confirm that a short-term low has been posted. First resistance is the 20-day moving average crossing at 921.70. Second resistance is the 10-day moving average crossing at 922.11. First support is last Wednesday’s low crossing at 899.50. Second support is the reaction low crossing at 873.10. The September S&P 500 Index was down 6.80 pts. at 908.90 as of 5:56 AM CST. Overnight action sets the stage for a lower opening by the September S&P 500 index when the day session begins later this morning.
Key Events and Commentary available earlier every morning, via The Market Club
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The contents of this report are for information purposes only. Compiled by Tom Nadir
Posted in The Market Club Tagged: currenies direct updates, first resistance, First support, June NASDAQ 100, June S&P 500 index, Key Events and Commentary, marketclub updates, second resistance, second support 
