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Technical Analysis: Blue Chips Remain Stalled

The Dow (first chart below) remains a problem here, stuck below its recent broken support. Until the index can retake 10,490-10,520, the market remains vulnerable. The S&P (second chart) is doing a little better with 1175 resistance. Above that is 1180-1182 and 1188, and support is 1170, 1168, 1166 and 1160-1163. The Nasdaq (third chart) faces resistance at 2054-2058, 2065 and 2073. A move below 2043 would break a short-term uptrend, with support below that at 2036-2040. On the plus side, put buying remains supportive.



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