Technical Analysis: Another Attempt at Resistance
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Note: The Technical Analysis column will return Jan. 3. Happy holidays and best wishes for a prosperous 2006!
A nice move for the Nasdaq (first chart below) today, which is now back above that critical trendline that sits at 2235. That level is first support, with 2220, 2213, 2206 and 2200 below that. Resistance is 2260 and 2278. The S&P (second chart) stall faces major resistance at roughly 1277-1285 a very big level for the market there. Support is 1257-1260 and 1246-1250. The Dow (third chart) needs to take out that stubborn 10,950-11,000 resistance zone, and support is 10,800-10,830 and 10,720-10,750. Long bonds (fourth chart) are behaving nicely here knock on wood!