Technical Analysis: Not Quite Convincing
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The rally broadened a little today, saved by a late surge in blue chips, but the internals remained unimpressive. At least option traders showed some modest late-day caution. The Nasdaq (first chart below) ended the day just below 1895-1897 resistance; above 1900, 1910 looks like strong resistance. 1885, 1880 and 1870 are support. The S&P (second chart) faces tough resistance at 1118 and 1120, and support is 1110, 1106 and 1102. The Dow (third chart) has support at 10,100-10,108, 10,080 and 10,050, and resistance is 10,187-10,200 and 10,240.