Technical Analysis: Stocks Stall at Resistance
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Stocks didn't get very far before sellers became emboldened again. The Nasdaq (first chart below) stalled out in the middle of 2280-2290 resistance, with 2300 a major level above that. 2266 is first resistance, and 2240-2247 is critical support. The S&P (second chart) stalled out at 1275 resistance. 1269 is first resistance, and 1260, 1255 and 1246-1250 are support. The Dow (third chart) stalled near 10,960 resistance today. Support is 10,848, 10,800 and 10,740. Long bonds (fourth chart) had a decent day as the 30-year bond returned.