Technical Analysis: Stocks Cling To Support
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After a week of failed rallies, it was time for the bears to try today, and they didn't get very far either. The Nasdaq (first chart below) put in its fourth straight indecision candlestick today. Resistance levels for tomorrow are 2142-2144 and 2150, and support is 2128-2134. The bears fared better with the S&P (second chart), which broke an uptrend line before closing right on it; an index that needs to turn up tomorrow. Support is 1214, and resistance is 1227. The Dow (third chart) held important support at 10,490-10,500, and resistance is 10,630.