Technical Analysis: Stocks Remain Under Pressure
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Stocks remain under pressure here, as last Friday's big red candlesticks continue to contain rally attempts. The Nasdaq (first chart below) faces some big resistance at 2275-2285. 2250-2255 is first support, and 2240 is major support. The S&P (second chart) has major support at 1246-1250. Resistance is 1271-1275 and 1280. The Dow (third chart) has support at 10,640, 10,600 and 10,545, and resistance is 10,760 and 10,800-10,840. A nasty move in treasuries (fourth chart) today; nothing positive about that.