RealTime IT News

Technical Analysis: Indexes Hang On � Barely

The S&P and Dow (first two charts below) have pulled back as far as they can without giving up their recent downtrend line breakouts. Below 10,160 on the Dow and 1156 on the S&P, the market is in trouble. Resistance is 1164 and 1175-1180 on the S&P, and 10,340-10,400 on the Dow. The Nasdaq (third chart) is looking a little better for a change. Critical support is 1940, and resistance is 1983, 1994 and 2005.