Technical Analysis: Techs Hang On
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The Nasdaq and Nasdaq 100 (first two charts below) held critical support levels today. The Nasdaq held support at today's low of 2248.65, while the Nasdaq 100 made it with a few points to spare. Resistance on the Nasdaq is 2278 and 2300. The S&P (third chart) faces resistance at 1281-1283, and support is 1273-1276, 1267-1268 and 1261. The Dow (fourth chart) has resistance at 11,050 and 11,075, and support is 10,950-10,980 and 10,920. Long bond yields (fifth chart) are taking a breather here, but they remain solidly in breakout mode.