RealTime IT News

Technical Analysis: Stocks Break Down

After a few days of hesitation, the indexes turned lower today, breaking their October uptrends. The Nasdaq (first chart below) could find support around 2090-2100, with 2070 the next level below that. Resistance is 2120, 2132 and 2140-2145. The S&P 500 (second chart) put in something of a "tri-star" top the last few days. Support is 1175, 1170 and 1162-1167, and resistance is 1185 and 1190. The Dow (third chart) has resistance at 10,520-10,560, and support is 10,387-10,414, 10,360 and 10,200-10,250.