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Technical Analysis: Market Shows Resilience

A nice save by dip buyers today. The Nasdaq (first chart below) held its uptrend off the recent lows, but any pullback tomorrow would break it. Supports are 1828-1831, 1821 and 1808-1812, and resistance is 1852-1853. The S&P (second chart) will also open right on an uptrend line tomorrow. Support levels below that are 1093, 1090 and 1087, and resistance is 1101 — which stopped the index again today — and 1106-1110. The Dow (third chart) broke its recent uptrend and then recovered; another plus there. Support levels are 10,080, 10,062, 10,040, 10,025 and 10,000-10,013, and resistance is 10,152, 10,200 and 10,250.