Technical Analysis: And Now For the Jobs Report
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A lot of news coming in the next few days, the jobs report tomorrow and another Fed rate hike and Cisco's earnings coming on Tuesday. With all that coming, it's not suprising that the indexes took a break today. Now where do we go from here? The Nasdaq (first chart below) held a nice little uptrend line at today's lows. To hang onto that support, the index must turn up tomorrow. 2200 and 2215-2220 are the next resistance levels, and the next support levels are 2184 and 2170. The S&P (second chart) has important support at 1229-1233, with 1225 and 1220-1223 below that. Resistance is 1240 and 1245-1265. The Dow (third chart) has major support at 10,580 and 10,480-10,525, and resistance is 10,685 and 10,700-10,750.