RealTime IT News

Technical Analysis: Blue Chips Aim High

The Nasdaq (first chart below) has become the laggard this time; perhaps Microsoft's earnings tomorrow night can change that. The techs continues to hang on to 2328-2333 support, but they haven't been able to translate that into much buying interest yet. 2320, 2310 and 2300 are the next support levels, and 2350-2354 and 2375 are resistance. Another push by the Dow (second chart) at the major 11,350-11,426 resistance level; above that and the all-time high at 11,750 comes into play. Support is 11,350, 11,330, 11,300 and 11,250-11,280. The S&P (third chart) has support at 1300 and 1295, and resistance is 1311, 1316, 1318 and 1320. Long bond yields (fourth chart) continue to push higher.