RealTime IT News

Technical Analysis: Techs Push Higher

The Nasdaq (first chart below) has led the market for the last few months and appears to be in a solid uptrend, but 2200-2215 will be a major test for the index. If it can clear that upper trend line formed over the last 18 months, 2251 could be the next target. Support is 2189, 2180, 2170, 2164-2165, 2150-2159 and 2144. The S&P (second chart) faces major resistance from 1244-1255, and support is 1229-1233, 1225 and 1220-1223. The Dow (third chart) is the S&P's biggest problem; it's going to be hard for the big caps to clear major resistance without the bluest of the blue chips. The Dow faces resistance at 10,700-10,750, and support is 10,580 and 10,480-10,515.