Technical Analysis: Nasdaq Fails Again
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Not the best of days for the Nasdaq (first chart below), which once again failed at 2100 resistance and then closed below its uptrend line from late April. More than a point or two of downside tomorrow and a deeper correction may be under way. The S&P (second chart) turned back just below 1210-1212 resistance today, with 1218 above that. Support is 1190-1192 and 1185. The Dow (third chart) once again struggled at 10,573-10,620 resistance. 10,424-10,430 and 10,405 are major support.