Technical Analysis: Back From the Brink
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Nice save by the bulls today, as the Nasdaq (first chart below) came back from what would have been a significant breakdown. For next week, critical support is 2245, and resistance is 2267, 2280-2290 and 2300. The S&P (second chart) faces resistance at 1269, 1272 and 1275, and 1260, 1255 and 1246-1250 are support. The Dow (third chart) is stronger than the other indexes, but continues to stall near 10,960 resistance. 11,000 and 11,070 are the next resistance levels, and support is 10,850, 10,800 and 10,740-10,760. No help yet from long bonds (fourth chart).