RealTime IT News

Technical Analysis: S&P Hangs On

The S&P (first chart below) has about four different supports at the 1226 level — three trendlines and a moving average — so it's a level the bulls need to hold. Below that, 1218-1222 and 1210 are the next support levels, and resistance is 1236-1237 and 1242-1246. The Nasdaq (second chart) has important support at 2145, with 2139 below that; an important test for the techs here. Resistance is 2157-2160, 2170 and 2183-2187. The Dow (third chart) has support at 10,500-10,515 and 10,470, and resistance is 10,565-10,570, 10,600 and 10,620.