Technical Analysis: Indecision
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Two consecutive dojis, or unchanged candlesticks, for the second straight day, reflecting indecision here. The Nasdaq (first chart below) continues to hit a rising resistance line overhead — that could be a negative, since it suggests that supply will eventually win out over demand. 2100-2108 is major resistance, and 2075 is important support. The S&P (second chart) would break its uptrend on any down move tomorrow. 1196-1200 is important support, and resistance is 1205, 1210 and 1218. The Dow (third chart) would break its uptrend if it heads below 10,700 tomorrow. 10,629-10,664 is important support below that, and 10,750-10,775 and 10,868 are resistance.