Technical Analysis: Dow Can't Turn It Up To 11
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The Dow (first chart below) continues to stall at 10,950-11,000 resistance, a level it last cleared in June 2001. A big psychological level that the market has been unable to surmount so far. 10,910 is first resistance, and 10,800 and 10,720-10,750 are supports. The Nasdaq (second chart) faces resistance at 2269-2275, with 2288, 2300 and 2328 above that, and 2256, 2250, 2245 and 2235 are support. The S&P (second chart) continues to face major resistance at 1270-1280. 1266 is first resistance, and support is 1257 and 1250. Bond yields (fourth chart) remain the one worrisome thing for stock bulls.