Technical Analysis: Techs Recover
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First of the month inflows sure did their job today. The Nasdaq (first chart below) recovered its downtrend line breakout and is once again nearing multi-year highs at 2328-2333. Support is now 2310, 2300 and 2285. The S&P (second chart) faces major resistance at 1295-1300, and support is 1284 and 1275. The Dow (third chart) faces resistance at 11,100 and 11,160, and support is 11,000, 10,960 and 10,900. Long bond yields (fourth chart) are trying to creep higher.