Technical Analysis: Indexes Hang On
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The indexes held on nicely today, finding support well above critical levels, and heavy put-buying continues to support the market. On the downside, internals worsened today, so there wasn't a lot of stealth buying. The Nasdaq (first chart below) bounced at 2040 support today; below that, 2030 is critical. 2073-2075 and 2100 are resistance. The Dow (second chart) paused at 10,868 resistance today. 10,930 and 11,000 are above that, and 10,677-10,700 is critical support. The S&P (third chart) held the critical 1195-1200 support level today, and resistance is 1215-1218.