Technical Analysis: Nasdaq Tries Again
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Not a bad day, considering the Nasdaq's (first chart below) unimpressive performance on Friday. Still, the index has yet to clear the major resistance of 2097-2100, with 2112 and 2118 above that. Support is 2070-2073 and 2053 a clear trading range on the index between 2053 and 2100. The Dow (second chart) has support at 10,560-10,570, and resistance at 10,660-10,673. The S&P (third chart) is the index closest to its highs. Resistance is 1218-1220, 1223-1225 and 1229, and support is 1208-1210. The put-call ratio was quick to spike on the first sign of selling; that jitteriness could help the bulls here.