RealTime IT News

Technical Analysis: S&P Stays Stuck

The S&P (first chart below) continues to stall at a trendline that has halted rallies since early 2004. 1277-1282 or so will remain very tough resistance for the index next week. Support is 1265-1267, 1258-1260 and 1250. The Nasdaq (second chart) continues to look vulnerable as long as it remains below its recent high of 2278. 2267 is first resistance, and support is 2247-2250 and 2235. The Dow (third chart) once again failed to clear 10,950-11,000 resistance — a common theme for the major indexes today. Support is 10,820 and 10,720-10,750. Long bonds (fourth chart) remain pretty much stuck in neutral here, but at least yields aren't heading significantly higher.