Technical Analysis: Nasdaq At Support
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The Nasdaq (first chart below) closed the day right on its December uptrend line. A gap down in the morning, particularly one that takes out the 200-week moving average at 2114, would be a negative. 2100 and 2080 are support levels below that. First resistance is 2128-2130, and 2150-2163 is major resistance. The S&P (second chart) has support at 1140, 1135 and 1132, and 1147-1150 is resistance. The Dow (third chart) was stopped just below the major resistance level of 10,673. 10,600, 10,550, 10,500 and 10,450 are support. On the plus side, at least put buying picked up today, but the Nasdaq looks vulnerable here.