RealTime IT News

Technical Analysis: Techs Break Out

A strong trend; the market has been overbought for some time, yet it keeps pushing higher. The Nasdaq (first chart below) took out 2055 resistance today. 2079 and 2100 are the next resistance levels, and support is 2050-2055, 2040-2041 and 2032-2034. The S&P 500 (second chart) is pushing 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) is pushing 10,487-10,500 resistance, with 10,537-10,570 above that, and support is 10,400 and 10,300.