Reply #31: ino.com blather [View All]

[UpInArms]

ino.com

The June NASDAQ 100 was lower overnight as it consolidates below the 10-day moving average crossing at 1427. Stochastics and the RSI have turned bearish signaling that sideways to lower prices are possible near-term. If June resumes this month's decline, weekly support crossing at 1387.77 is the next downside target. Closes above last week's high crossing at 1454.50 are needed to confirm that a short-term low has been posted. The June NASDAQ 100 was down 4.50 pts. at 1422.50 as of 5:43 AM ET. Overnight action sets the stage for a steady to lower opening by the NASDAQ composite index later this morning.

The June S&P 500 index was lower overnight as it consolidates some of Wednesday's rally but remains above the 10-day moving average crossing at 1153.36. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If this month's decline resumes, the 62% retracement level of the August- March rally crossing at 1130.03 is the next downside target. Closes above the 20-day moving average crossing at 1167.75 are needed to confirm that a short-term low has been posted. The June S&P 500 Index was down 3.00 pts. at 1154.10 as of 5:45 AM ET. Overnight action sets the stage for a steady to lower opening when the day session begins later this morning.

Hi Ozy! :hi: