Nachbetrachtung

The March NASDAQ 100 closed lower on Friday and below January's low crossing at 1132.00. The low-range close sets the
stage for a steady to lower opening on Monday. Stochastics and the RSI are oversold but remain neutral to bearish signaling
that sideways to lower prices are possible near-term. If March extends this month's decline, the 75% retracement level of the
November-December rally crossing at 1086.22 is the next downside target. Closes above the 20-day moving average crossing at
1195.72 are needed to confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at
1163.65. Second resistance is the 20-day moving average crossing at 1195.72. First support is Friday's low crossing at
1107.25. Second support is the 75% retracement level of the November-January rally crossing at 1086.22.

The March S&P 500 index closed lower on Friday and below support marked by November's low crossing at 737.25. The low-
range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are oversold but are neutral to
bearish signaling that additional weakness is possible. If March extends this month's decline, psychological support crossing at
700.00 is the next downside target. Closes above the 20-day moving average crossing at 803.33 would confirm that a short-term
low has been posted. First resistance is the 10-day moving average crossing at 769.44. Second resistance is Monday's high
crossing at 786.00. First support is today's low crossing at 730.50. Second support is psychological support crossing at 700.00.

The Dow posted a new low close for the year on Friday as it extended the recent breakout below November's low crossing at
7449. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI are oversold but are
neutral to bearish signaling that sideways to lower prices are possible near-term. If the Dow extends this week's decline, the
October 1997 low crossing at 6993 is the next downside target. Closes above the 20-day moving average crossing at 7707 are
needed to confirm that a short-term low has been posted. First resistance is broken support marked by November's low crossing
at 7449. Second resistance is the 10-day moving average crossing at 7379. First support is today's low crossing at 7033.
Second support is the October 1997 low crossing at 6993.