RealTime IT News

Technical Analysis: Stocks Stay Stuck

No help for a range-bound market today. The Nasdaq (first chart below) needs to clear its recent high at 2278 to avoid looking toppy here. Support is 2260, 2250 and 2234. The S&P (second chart) faces major resistance at 1275 and 1285. Support is 1261-1265, 1250 and 1246. The Dow (third chart) is the one index in a genuine downtrend. Resistance is 10,880 and 10,950-11,000, and support is 10,720-10,750. Long bonds (fourth chart) gave a collective yawn at the Fed's decision today, and it's easy to see why — two more rate hikes and the Fed funds rate will be higher than the 10-year yield. Bonds don't have much room here at all, thanks to pressure from the Fed.

We have made updates to our Privacy Policy to reflect the implementation of the General Data Protection Regulation.