Technical Analysis: Rally Weakens?
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The rally looked a little wobbly today, with the Nasdaq (first chart below) putting in a high-volume doji star while the Nasdaq 100 and the semiconductor index (not pictured) finished down on the day. Support on the Nasdaq is 1840-1846 and 1814, and resistance is 1863 and 1900-1940. The S&P (second chart) faces resistance at 1033 and 1051 on the way to a possible 1068 target. 1015 is critical support. The Dow (third chart) has support at 9500-9520 and 9352-9361, and is running into a major trendline here (fourth chart). The banks (charts five and six) are attempting breakouts here, a potential positive for the market.