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RealTime IT News

Technical Analysis: Techs Hang On

An impressive reversal today, with outside days and bullish engulfing patterns on the major indexes. The Nasdaq (first chart below) held the major support level of 2100-2106 with room to spare. 2112-2118 is important support, and resistance can be found at 2142-2144, 2150 and 2156. The S&P (second chart) held a secondary uptrend line today. 1201-1202 is critical support, and 1218-1220 is major resistance. The Dow (third chart) has support at 10,400 and 10,350, and resistance at 10,500, 10,530-10,540 and 10,590.