Technical Analysis: Stocks Find Support
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The Nasdaq and Dow (first two charts below) held important support levels today. The Nasdaq turned higher after testing 2090, the top of its first wave up off the recent lows. 2100, 2090 and 2065 are support, and 2125 and 2150 are resistance. The Dow held its 200-day average just above 10,900, which remains support for Thursday. Resistance is 11,020-11,050. The S&P (third chart) held 1235-1237 support today, with 1232 below that. Resistance is 1250 and 1262. Long bond yields (fourth chart) continue to set new highs.