Technical Analysis: Another Bounce Attempt
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Stocks are trying to put in a higher low here. One positive that could help them accomplish that was a raft of put buying today. The Nasdaq (first chart below) faces resistance at 2185, 2200 and 2215, and support is 2170, 2165 and 2159. The Dow (second chart) faces tough resistance at 11,250, 11,280 and 11,330, and support is 11,100 and 11,030. The S&P (third chart) faces resistance at 1275 and 1281, and support is 1265 and 1259. Long bond yields (fourth chart) turned higher today, but remain very much range-bound.