RealTime IT News

Technical Analysis: Stocks Stabilize

A volatile day, but at least the day ended on the upside for a change. The Dow (first chart below) should have a lot of support between 10,960 and 11,050; the index bounced at 11,075 today. Resistance is 11,180, 11,220, 11,280 and 11,330-11,350. The Nasdaq (second chart) found support at 2164 today. 2150, 2125 and 2100 are the next big support levels, and resistance is 2200, 2211, 2220, 2229 and 2245-2250. The S&P (third chart) has support at 1256-1258 and 1246-1251, and resistance is 1272-1275, 1282-1284 and 1288-1290. Another down day for long bond yields (fourth chart), but they should have solid support at 5%.