Technical Analysis: Bulls Battle Back
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A solid comeback for the bulls today. Blue chips remain strong, while the tech sector has become the laggard here. The Nasdaq (first chart below) remains stuck below 2333 resistance, while the Nasdaq 100 (second chart) looks even worse. The Nasdaq has solid support in the 2280-2290 range. The S&P (third chart) faces resistance at 1310 and 1316, and support is 1303, 1300 and 1295. The Dow (fourth chart) faces major resistance at 11,350-11,426, and support is 11,210-11,220 and 11,160. Long bond yields (fifth chart) held on the wrong side of the line today despite a good day for the bond market.