RealTime IT News

Technical Analysis: Techs On Support

The Nasdaq and Nasdaq 100 (first two charts below) head into tomorrow's jobs report perched right on critical support; an important day for stocks. The Nasdaq ended the day right on support; below that, 2030 is an important level. The Nasdaq 100 has about four points to go until it hits big-time support. Resistance on the Nasdaq is 2278 and 2300. The S&P (third chart) ended the day just below 1273-1276 support, which is now first resistance, with 1283 the next level above that. Next support levels are 1267-1268 and 1261. The Dow (fourth chart) faces tough resistance at 11,050-11,060, and support is 10,950-10,960 and 10,920, with 10,850 below that. Long bond yields (fifth chart) are taking a breather here, but they remain in breakout mode.