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Technical Analysis: Nasdaq Gives The Bulls Hope

The Nasdaq (first chart below) is the best case of the bulls here — the index could be forming a "symmetrical triangle" over the last five trading sessions that could signal more upside. Resistance is 2180 and 2193-2200, and support is 2167-2168, 2164-2165, 2150-2159 and 2144. The S&P (second chart) is more worrisome, forming what appears to be a bearish rising wedge here. 1229-1230 is important support, with 1225, 1220-1223 and 1217 below that, and 1244-1255 is major resistance. The Dow (third chart) remains the laggard. Support is 10,540-10,570 and 10,480-10,500, and resistance at is 10,650-10,700 and 10,750.