Technical Analysis: A Pause That Refreshes?
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The market may have begun a correction here; if it can continue into next week and generate some good fear, it could set up a good holiday rally. The Nasdaq (first chart below) faces resistance at 2140, 2145 and 2150, and support is 2132, 2125-2128, 2120 and 2110. The S&P 500 (second chart) faces resistance at 1200-1203, and support is 1189-1190 and 1178. The Dow (third chart) has important support at 10,600, and resistance is 10,700 and 10,753.