Technical Analysis: Another Push At Resistance
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A nice push by the bulls today, but the Nasdaq and S&P remain below some major resistance levels. Perhaps Friday's GDP report can break the stalemate. The Nasdaq (first chart below) made a push over a short-term resistance level today, but still must clear major resistance at 2193-2200. Support is 2180, 2170, 2164-2165, 2150-2159 and 2144. The S&P (second chart) faces resistance at 1238-1240, and 1244-1255 is major resistance. Support is 1228-1231, 1225, 1220-1223 and 1217. The Dow (third chart) faces resistance at 10,650, 10,670 and 10,700, and support is 10,570-10,580, 10,530 and 10,480-10,510.