RealTime IT News

Technical Analysis: Nasdaq Nears Resistance

Note: There will be no technical analysis on Friday. It will return next week.

Another new closing high for the Nasdaq (first chart below). If it can clear 1812-1815, it could be off to the races. Support is 1776 and 1760. The Dow (second chart) finally got back above 9352-9361 resistance, which is now support again. Below that, 9300 and 9200 are support, and resistance is 9470-9500. The S&P 500 (third chart) has support at 990 and resistance at 1010-1015. The financials (fourth and fifth charts) still don't look so good. Watch out if those potential necklines break. Finally, there was a little too much call buying today, closing just above the .45 danger zone.