RealTime IT News

Technical Analysis: Nasdaq Crashes Through Support

The Nasdaq (first chart below) fell back below the two-year trendline that had capped rallies until last month — a big disappointment for the techs. That makes 2235-2240 major resistance again, and support is 2220 and 2200. The S&P and Dow (second and third charts) are the problem for the market here: the S&P must clear its multi-month resistance line at 1277-1282, and the Dow must clear that stubborn 10,950-11,000 resistance zone. The S&P has support at 1259 and 1246-1250, and the Dow has support at 10,800-10,820 and 10,720-10,750. Long bonds (fourth chart) remain stuck in neutral, but at least the trend since November has been lower for yields.

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