Technical Analysis: Can Bulls Try Again On Friday?
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Some very good economic reports today, and yet the Dow (first chart below) tried to break out yet failed. Surprising weakness, but it could just be jitters ahead of tomorrow's unemployment, Michigan sentiment and ISM reports. With any luck, we'll know better we're the market is headed by 10 a.m. tomorrow. 9352 on a closing basis is critical resistance, and 9150-9160 is critical support. On the S&P (second chart) support is 984 and 962, and resistance is 1000, 1004, 1010 and 1015. On the Nasdaq (third chart), support is 1725 and 1710, and resistance is 1750-1757 and 1776.