Technical Analysis: Back to Support

Back to support for the Dow and S&P (first two charts below), which haven’t gotten very far despite some solid breakouts. The Dow has important support at 10,920-10,960, and the S&P’s even bigger support level is 1280-1285. Resistance is 11,055 on the Dow and 1295 on the S&P. The Nasdaq (third chart) faces resistance at 2328-2333, and support is 2295-2305. Long bond yields (fourth chart) headed in the right direction today; that kind of “flight to quality” is what you want to see in a sell-off.

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