Technical Analysis: Resistance 2, Bulls 0
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Another day, another failure at resistance. The Dow (first chart below) was stopped at the upper resistance line of what could be a bearish broadening pattern. The Nasdaq and S&P (second and third charts) look like they need to get to 1950 and 1055 to test their patterns. The Dow faces resistance at 9686 and 9770-9800, and support is 9600 and 9500. The S&P faces resistance at 1050 and 1055, and support is 1030-1034, 1025 and 1018-1022. The Nasdaq faces resistance at 1940 and 1950, and support is 1900 and 1860-1870.