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Technical Analysis: Back to Resistance

Back to some big resistance levels for the blue chips, while the Nasdaq (first chart below) put in a big day after hanging onto support nicely the last few days. 2260-2264 is first support, and 2252 is below that. Resistance is 2269, 2288, 2300 and 2328. The S&P and Dow (second and third charts) are once again facing some big hurdles. The S&P faces major resistance at 1270-1280, and support is 1260, 1255 and 1250. The Dow faces a host of potential sellers between 10,950 and 11,000, and 10,880-10,900 and 10,800 are supports. Bond yields (fourth chart) continue to be of little help, but that has yet to do much damage to the stock market.



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