US stocks closed mixed, with the Dow Jones Industrial Average turning lower in the last hour of trading, and closing at 19,855.53 down by 31 points. The S&P ended flat at 2,268.90, while the Nasdaq posted its third straight record close, up by 20 points to 5,551.82. Investors turned cautious ahead of a press conference by US President-elect, Donald Trump, scheduled for this Wednesday, moreover after the FED acknowledge the uncertainty related to his upcoming mandate. From a technical point of view, the daily chart for the Dow shows that the index opened and closed below its 20 DMA, while technical indicators continued grinding lower, the Momentum around its 100 level and the RSI at 57, not enough to confirm further slide. In the shorter term, and according to the 4 hours chart, the index remains below its 20 and 100 SMAs, both horizontal a few points above the current level, while technical indicators have gained bearish strength within negative territory, anticipating some further slides on a break below 19,837, the daily low and the immediate support.
Support levels: 19,837 19,787 19,715
Resistance levels: 19,920 19,985 20,045