Technical Analysis: Lower Highs
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Despite today's gains, the indexes couldn't take out yesterday's highs, setting up those levels as firm resistance at this point and one more sign that the market may need a breather here. The Nasdaq (first chart below) faces resistance at 2164 and 2192, and support is 2145, 2135, 2128, 2113-2116 and 2100-2106. The S&P (second chart) faces resistance at 1229 and 1233, and support is 1223.5 and 1216-1220. The Dow (third chart) remains stalled at 10,656-10,673 resistance, with 10,700 and 10,750 above that. Support is 10,600 and 10,570.