Technical Analysis: Stocks Hang On
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The Nasdaq (first chart below) held up well today, but it also may be losing a little momentum here, as it seems to be running into a rising resistance line. Resistance is 2320 and 2328-2333, and support is 2300, 2295, 2290, 2280 and 2274. The S&P (second chart) put in an inside day today, a sign of indecision here. Resistance is 1295-1300, and support is 1285, 1282 and 1275. The Dow (third chart) has support at 11,000, 10,960-10,980 and 10,910, and resistance is 11,100 and 11,160. Long bond yields (fourth chart) are threatening to turn up again.