Technical Analysis: Nice Recovery
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A nice recovery by the market after some recent breakdowns. The Nasdaq (first chart below) recovered the 1685 level, which it now must hold. 1700 and 1727-1747 are next, and 1677 and 1640 are support. The Dow (second chart) recovered its main channel line from March. 9352 and 9470 are next resistance levels, and 9280, 9250 and 9140-9170 are support. The S&P (third chart) faces resistance at about 997-998, and 989, 984-985 are support. If the market finally wants to break out of the trading range, today was a good set-up for it. The Dow at 9352-9361 would be first.