Technical Analysis: Can The Market Turn Up?
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The Nasdaq's (first chart below) stochastics are getting pretty oversold, and the index formed a potential reversal candlestick on a day where there was lots of put buying. Can the index finally turn up? It's a good set-up if it wants to. Support is 1640, 1625 and 1600, and resistance is 1685. The S&P (charts two and three) is trying to turn up from major support at 960. Resistance is 987 and 1000. The Dow (fourth chart) has support at 9112 and 9000, and resistance at 9154 and 9250.
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