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RealTime IT News

Technical Analysis: Techs Break Out

Finally, after six weeks of flirting with 2100, the Nasdaq closed above it today; now it needs to hold as support. The next resistance levels are 2118 and 2150. The Dow (second chart) sure hasn't gotten very far since bottoming three months ago. Still, it managed to take out some resistance today, with 10,500 and 10,600 still ahead. At this point, we'd like to see 10,400 hold to the downside. The S&P (third chart) is pushing 1212 resistance, with 1218-1220 above that. Support is 1210, 1206 and 1198-1200.