Technical Analysis: Nasdaq on Support
Page 1 of 1
Good thing Cisco's numbers tonight were solid, since the Nasdaq (first chart below) closed just above the critical 2240 support level. The Nasdaq pierced that support at today's low before recovering, so we'll peg support at 2242-2244. To the upside, resistance is 2250, 2266 and 2280. The S&P (second chart) has critical support at 1246-1250, and resistance is 1260, 1268 and 1273-1275. The Dow (third chart) has support at 10,730-10,738, 10,700 and 10,661, and resistance is 10,800, 10,850 and 10,930-10,960. Long bond yields (fourth chart) continue to pause here, but the bias at the moment appears to remain to the upside.