Technical Analysis: Stocks Stall At Resistance
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The Dow and S&P (first two charts below) turned back at major resistance levels today (10,629-10,664 on the Dow and 1196-1200 on the S&P) ahead of Friday's big jobs report. Both indexes managed to hold well above the important support levels of 10,510-10,532 and 1178-1180, however. The Nasdaq (third chart) fell a little deeper into support. Below 2040-2045, the index would break its recent uptrend. Resistance is 2075-2080 and 2090.