Technical Analysis: And Now For The News

A lot of news in the next day and a half: wholesale and consumer inflation data and earnings from Home Depot and HP could be pivotal. The good news is that the S&P and Dow (first two charts below) are heading into that news in good shape, getting back above their main downtrend lines after falling back below on Friday. The S&P has resistance at 1173-1174 and 1180, and support is 1164, 1160 and 1153. The Dow has resistance at 10,320-10,405, and support at 10,200-10,225 and 10,120. The Nasdaq (third chart) ended the day right at its 200-day moving average. 1995-2000 is major resistance, with 2012 the next level above that. Support is 1980-1982 and 1970-1974.

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