Technical Analysis: The S&P Pushes Through
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The indexes continue to behave nicely here; we may yet see 11,250 on the Dow and 1287 on the S&P. The S&P (first chart below) cleared some tough resistance at 1264-1265 today, but then stopped at another downtrend line. Support is 1265 and 1261, and resistance is 1272 and 1280. The Dow (second chart) faces resistance at 11,150 and 11,250, and support is 11,040-11,050 and 11,000. The Nasdaq (third chart) faces tough resistance at 2090, and support is 2065 and 2050. Long bond yields (fourth chart) remain range-bound.