RealTime IT News

Technical Analysis: Range-Bound

The Nasdaq and S&P (first two charts below) remain range-bound here, but considering that they're not selling off in the face of significant resistance or falling through major support, we'll consider that a positive. 2250-2253 is the first support level on the Nasdaq, and the 2235 level remains critical. Resistance is 2278, with 2288, 2300 and 2328 above that. The S&P faces major resistance at 1275 and 1285. The first resistance level is 1263, and support is 1257, 1250 and 1246. The Dow (third chart) is somewhat weaker than the other major indexes. Support is 10,720, 10,700 and 10,640, and resistance is 10,812, 10,890 and 10,950-11,000. Bonds (fourth chart) continue to be the one worry for the market here. Yields seem to want to go up more than they do down.