Technical Analysis: Dow On Support
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An ugly reversal today. The Dow (first chart below) set a new low for the move and ended the day near critical 10,368-10,378 support. To the upside, 10,525-10,550 is resistance — a nasty failure there today. The Nasdaq (second chart) is back below its 200-day moving average at 1993, and above that, the index is struggling with a rising resistance line at about 2015. Support is 1968 and 1940-1950. The S&P (second chart) has critical support at 1164, with 1152 below that, and resistance is 1193-1201.