RealTime IT News

Technical Analysis: Nasdaq, S&P Stall At Resistance

The Nasdaq and S&P (first two charts below) continue to stall at some major resistance zones. The Nasdaq faces major resistance at 2193-2200, and support is 2164-2165, 2150-2159 and 2144. The S&P (second chart) faces major resistance at 1244-1255. The index is getting a little choppy-looking here, and closed the day on the lower support line of what appears to be a bearish rising wedge; something to keep an eye on here. Support is 1225, 1220-1223 and 1217. The Dow (third chart) is lagging well behind the other indexes here. Support is 10,550-10,580, 10,500 and 10,475-10,485, and resistance at is 10,650-10,700 and 10,750.