RealTime IT News

Technical Analysis: Nasdaq Pushes Resistance

The Nasdaq (first chart below) is trying to break up out of a consolidation here, but to do so will require more volume than we saw today. A gap up tomorrow morning would take out a downtrend line and the 20-day moving average. Resistance is 2088-2091, 2100 and 2120, and support is 2068, 2063 and 2050. The S&P (second chart) is pushing 1160, the 50% retrace of the all-time high, and 1173-1177, the 2002 high, is above that. Support is 1148-1151, 1145 and 1142. The Dow (third chart) has resistance at 10,750 and 10,800, and support is 10,650, 10,628 and 10,577-10,585.