RealTime IT News

Technical Analysis: Good News, Bad News

The picture looks much the same as it did yesterday — support held, as did resistance, and the Dow and S&P continue to look a little shaky here. The Nasdaq (first chart below) couldn't quite make another run at 2100-2106 resistance, getting as high as 2093, but on the plus side, the index held support at its old downtrend line, which should be at about 2077-2078 tomorrow. The Dow (second chart) once again failed to clear its yearly high at 10,868. The index doesn't have much downside room either — 10,810-10,820 is important support. The S&P (third chart) has important support at 1204-1205, and resistance is 1214 and 1218. In short, a market that's going to have to decide soon which way it's going.