RealTime IT News

Technical Analysis: Stocks Hit Headwinds

The indexes stopped in no-man's land today, halted by nothing more than short-term overbought conditions. The Nasdaq (first chart below) cleared 2155 and 2160 resistance and fell back before testing its main downtrend line at 2170. Support is 2154, 2150, 2138-2142 and 2129-2133. The Dow (second chart) has resistance at 10,550, 10,600-10,608, 10,640-10,660 and 10,680, and support is 10,500-10,520 and 10,455. The S&P (third chart) faces resistance at 1233, 1238-1239 and 1242-1246, and support is 1223-1226, 1220 and 1215.