Technical Analysis: Outside Days
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"Outside days" on all the major indexes today, a potential reversal sign. The Nasdaq (first chart below) engulfed the previous four trading days today; we'll see if sellers have any follow-through on that set-up. The index has lots of support at 2280-2290, and resistance is way up at 2333 after today's straight-line decline. The S&P (second chart) put in something of a "tri-star" top today, another pattern to keep an eye on. Support is 1295, 1288-1290 and 1283, and resistance is 1300, 1303, 1310 and 1316. The Dow (third chart) has support at 11,220, 11,200 and 11,160, and resistance is 11,250, 11,300 and 11,350-11,426. Long bond yields (fourth chart) just refuse to behave.