Technical Analysis: Bulls Turn Cautious
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The S&P 500 (first chart) began the week with a major breakout, but then nearly gave it up by the close. A move below last week's close (1131.5) would be a negative. Resistance is 1140 and 1146. The Nasdaq (second chart) also put in an ugly candlestick today, after getting stopped at its 200-day moving average. 1965 is resistance, and support is 1940-1942, 1933 and 1926. The Dow (third chart) faces major resistance at 10,290-10,300, and support is 10,200, 10,140, 10,120 and 10,100.