Technical Analysis: Resistance Holds
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With lukewarm results from Cisco after the bell and the likelihood of a Fed rate hike tomorrow, this could be the time and place for a correction. The Nasdaq (first chart below) stalled once again below its June high of 2055. Support is 2034, 2020-2025 and 1992-2000. The S&P 500 (second chart) is hesitating at the major resistance level of 1173-1177, with 1190-1200 above that. Support is 1160-1163, 1157, 1150 and 1140-1142. The Dow (third chart) faces resistance at 10,427 and 10,487-10,500, and support is 10,310.