Technical Analysis: Bonds Catch a Bid
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An important move for bonds (first chart below) today, particularly since bonds have historically led stocks. Bond yields may finally be heading in the right direction here. The rest of the market held up well considering the uninspiring technical setups heading into today. The Nasdaq (second chart) recovered nicely off the lows today. Support is 2182, 2175 and 2163-2167, and resistance is 2200, 2207 and 2220-2230. The S&P (third chart) has support at 1225-1227, 1220 and 1215-1216, and resistance is 1238 and 1240-1246. The Dow (fourth chart) faces resistance between 10,712 and 10,753, and support is 10,650-10,670, 10,600-10,620 and 10,500-10,520.