Technical Analysis: Still Waiting
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Not much new to report today, as the indexes remain range-bound. The best indexes to watch to clues as to the next move are the S&P and Nasdaq (first two charts below). The S&P faces resistance at 1256 and 1262, and support is 1240, 1235-1237 and 1232. The Nasdaq faces resistance at 2132 and 2150, and support is 2090-2103. The Dow (third chart) faces resistance at 11,030-11,050, 11,080 and 11,132, and 10,900 is critical support. Long bond yields (fourth chart) are looking dangerous here, with a breakout to new highs.