Technical Analysis: Stocks Still Stuck
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Stocks went nowhere for the fourth straight day, as a rally failed once again. The Nasdaq (first chart below) put in an "outside day" to follow Friday's "inside day" it would be hard for the index to reflect greater indecision than that. Resistance is 2150 and 2167, and support is 2128-2132, 2114-2116 and 2106. The S&P (second chart) had its fourth straight doji at its 50-day average and main uptrend line. Support is 1216-1217, and resistance is 1227-1229 and 1237. The Dow (third chart) has important support at 10,490-10,500, and resistance is 10,630.