Technical Analysis: Bounce Attempt
Page 1 of 1
The Nasdaq (first chart below) is back below critical support at 2245. Today's bounce ended there, but tomorrow morning's inflation data may have a lot to say about whether the index stays below that level. The first support levels are 2229 and 2220. The Dow (second chart) has support at 11,330, 11,260 and 11,200, and resistance is 11,500, 11,600 and 11,722-11,750. The S&P (third chart) has support at 1280-1282 and 1268-1275, and resistance is 1295-1297 and 1300-1303. Long bond yields (fourth chart) have slowed their ascent; can they now turn lower? Finally, one positive today was a new 52-week low in the ISEE options sentiment index.