RealTime IT News

Technical Analysis: Nasdaq Fails Again

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.