RealTime IT News

Technical Analysis: Techs Hang On

The Nasdaq (first chart below) is hanging on to the critical 2240 support level; if that goes, 2230, 2220 and 2190-2200 are possible targets. To the upside, 2256, 2264, 2278 and 2290 are resistance. The S&P (second chart) is hanging on to 1262 support, with the major support level of 1246-1250 below that. Resistance is 1270-1275 and 1284. The Dow (third chart) has support at 10,640, 10,600 and 10,540, and resistance is 10,720-10,750 and 10,800-10,830. Long bond yields (fourth chart) remain in a downtrend, so that's a plus.