RealTime IT News

Technical Analysis: Nasdaq, S&P Test Big Levels

It's back to the monthly charts for the Nasdaq and S&P (first two charts below), which are pushing into some major resistance here at four-year highs. The Nasdaq (first chart below) is pushing major resistance at 2200; if the index can clear that, 2220 and 2251 are the next targets. Support is 2193, 2180, 2170, 2164-2165, 2150-2159 and 2144. The S&P (second chart) is up against even tougher resistance at 1244-1255, with 1316 a possible target above that. Support is 1236-1238, 1229-1233, 1225, 1220-1223 and 1217. Still on a daily chart for the laggard Dow (third chart), which faces tough resistance between here and 10,750. Support is 10,640-10,650, 10,600 and 10,580.