Technical Analysis: S&P Hangs On
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The S&P 500 (first chart below) hung onto its uptrend nicely today, sparking a rally into the close. Support is 1120 and 1116, and resistance is 1130 and 1140-1142. The Nasdaq (second chart) also put in a nice reversal today. Support is 1918-1920, 1910, 1900 and 1892, and resistance is 1931-1933 and 1941-1949. The Dow (third chart) broke its uptrend today, but managed to recover with the rest of the market. It has been the technically weakest index for some time now. Support is 10,050 and 10,025, and resistance is 10,100, 10,120, 10,160 and 10,200.