Technical Analysis: S&P Breaks Out
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The S&P (first chart below) took out a number of big resistance levels today, a strong day for the broad market. Could the index be ready to challenge the major resistance zone between 1244 and 1265 again? Support is 1232, 1227-1229 and 1221. The Nasdaq (second chart) faces resistance at 2174-2176 and 2185-2190, and support is 2163-2164, 2156-2157 and 2145-2150. The Dow (third chart) also had a strong day for a change. Resistance is 10,600, 10,640-10,660 and 10,700-10,720, and support is 10,530-10,540.