RealTime IT News

Technical Analysis: Breakouts, Breakouts Everywhere

A trifecta for the bulls today, as the major indexes all broke their downtrends on rising volume (see charts below). Now they must hold those breakouts. The Nasdaq (first chart below) has support at 1821, 1810 and 1805, and resistance is 1842, 1850 and 1860. The S&P (second chart) has support at 1092 and 1087, and resistance is 1097-1100 and 1106-1110. The Dow (third chart) has support at 10,050, and resistance is 10,100, 10,175 and 10,250.