Technical Analysis: Stocks Stall
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Spending three straight days unable to take out the high of a big red candlestick is generally a bearish thing for stocks, and that's where stocks will be Monday if they can't take out Wednesday's highs. That makes 2129 on the Nasdaq, 10,484 on the Dow and 1221.5 on the S&P the levels to beat on Monday. The bulls need a post-hurricane rally here. The Nasdaq (first chart below) has support at 2100-2106, 2093 and 2078, and resistance is 2129, 2140 and 2145.The Dow (second chart) has critical support at 10,349-10,351 and 10,332, and resistance is 10,484-10,520. The S&P (third chart) has support at 1212, 1205 and 1199-1201, and resistance is 1220, 1225 and 1227.