Technical Analysis: A Break in the Downtrend

A market looking for direction today, and that direction could come from Cisco tomorrow night. The Nasdaq (first chart below) found support today at 2250, above the critical 2240 level. To the upside, resistance is 2266 and 2280. An inside day on the S&P (second chart) shows indecision too, with resistance at 1269 and 1275, and support at 1260 and 1246-1250. The Dow (third chart) faces resistance at 10,850 and 10,940-10,960, and support is 10,760, 10,700-10,730 and 10,650. Not much to say about long bond yields (fourth chart) here, but at least they’ve stopped going up for now.

News Around the Web