RealTime IT News

Technical Analysis: A Good Start

A nice start today, but the evidence for a new leg up isn't all in yet. The NYSE needs another 80% upside day tomorrow, and the indexes need to take out their recent highs of 1126 on the S&P, 10,329 on the Dow, and 1985 on the Nasdaq. On the Nasdaq (first chart below), support is 1940, 1928-1930, and 1923, and resistance is 1970, 1985-1991 and 2000-2010. The Dow (second chart) has resistance at 10,250 and 10,329, and support is 10,050-10,131. The S&P (third chart) has support at 1098-1102 and 1192, and resistance is 1110-1113 and 1122-1126.