Technical Analysis: Stocks Stabilize
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Stocks seem to have found some support here, and just in time for end-of-the-month inflows. Still, the rockiness could continue ahead of Wednesday's GDP report (and Google's earnings). The Nasdaq (first chart below) is threatening to lose its November uptrend here. Support is 2418 and 2390-2400, and resistance is 2441-2443, 2450-2455 and 2471. The S&P (second chart) held its November uptrend line today; call it 1417-1418 for Monday, with the 50-day average at 1414. Resistance is 1427, 1435 and 1441. The Dow (third chart) has its November trendline back at 12,350. 12,431 and 12,400 are first supports, and first resistance is 12,539-12,550. The 10-year yield (fourth chart) put in a doji star today and is looking pretty extended. Time for a pullback?