Technical Analysis: Stocks Hang On
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The Dow (first chart below) broke down today, but managed to recover by the close. 10,800 is first support, with 10,720-10,750 below that, and 10,950-11,000 remains the level to beat to the upside. The S&P (second chart) faces major resistance from 1273-1282, and support is 1250. The Nasdaq (third chart) has support at 2250, 2245 and 2235, and resistance is 2260 and 2278, with 2288, 2300 and 2328 above that. Bond yields (fourth chart) continue to come under pressure here.