RealTime IT News

Technical Analysis: Techs Turn Back

The Nasdaq (first chart below) stumbled at 2023 resistance today — a big level for the techs, with both a rising resistance line and an old low causing sellers to line up at that level. Support is 1993 and 1975. About the only thing the Dow (second chart) did right today was stay above the downtrend line the index broke out of yesterday; that line should be just under 10,450 on Monday. 10,575-10,660 is one big resistance zone. The S&P (third chart) needs to stay above 1174-1177, and resistance is 1194 and 1198-1201.