Technical Analysis: Stocks Reverse Back Up
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The Nasdaq (first chart below) put in a nice "morning star" reversal pattern the last three days. 1910 and 1894-1900 should now be support, and resistance is 1922, 1926, 1930 and 1940-1946. The S&P (second chart) also completed a morning star reversal today. The index faces resistance at 1113, 1117 and 1123, and support should now be 1105-1107. The Dow (third chart) faces resistance at 10,162-10,175 and 10,215. Support is a little tougher to call on that one; ideally, we'd like to see 10,149 hold. 10,121-10,134, 10,093, 10,074 and 10,062 are support below that.