Technical Analysis: Stocks Still Stuck
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The Dow (first chart below) struggled for the fourth straight day at the major resistance level of 11,030-11,050, and market internals were decidedly weak. A lot for the market to overcome here. To the downside, the 200-day moving average at 10,892 is important support. The S&P (second chart) faces resistance at 1245, 1252, 1255 and 1262, and support is 1235-1237, 1230 and 1219-1220. The Nasdaq (third chart) faces resistance at 2125 and 2150, and support is 2090-2100 and 2065. Long bond yields (fourth chart) are still creeping higher.