Technical Analysis: Nasdaq Held Back Once Again
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One ugly candlestick on the Nasdaq (first chart below) today the index gapped over major resistance to start the day and then spent the rest of the day on the defensive. Resistance is 2097-2100, 2112 and 2118, and support is 2080, 2070-2073 and 2053. The Dow and S&P (second and third charts) both pushed through some big resistance levels today. The Dow finally cleared 10,600-10,620 resistance, only to get stopped at the 10,660-10,673 resistance level. Support is 10,573-10,620 and 10,550. The S&P (third chart) faces resistance at 1218-1220, 1223-1225 and 1229, and support is 1212, 1209 and 1205-1206.