Technical Analysis: A Big Test for Techs

With internals continuing to erode and upside volume barely clearing 50% today, does the Nasdaq (first chart below) have what it takes to clear some major overhead resistance on tomorrow’s jobs report? 2100-2107 looks like tough resistance, with 2117 above that. Support is 2065-2070 and 2050. The S&P (second chart) faces tough resistance at 1285-1287 and 1291, and support is 1277 and 1269. The Dow (third chart) faces major resistance between 11,290 and 11,330, and first support is 11,200. Long bond yields (fourth chart) continue to creep lower, but remain wound in a very narrow pattern.

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