Technical Analysis: Big Blue Is Bulls’ Hope

Tomorrow will likely be another volatile day in what has been a volatile and unpredictable week so far. A lot of hope is being pinned on IBM’s early earnings release in the morning; Big Blue had better come through. The Dow (first two charts below) recovered its November uptrend today. 10,550, 10600 and 10,670 are resistance, and 10,500, 10,425-10,450 and 10,350 are support. The S&P (charts three and four) faces resistance at 1132, and support is 1121, 1115, 1112, 1110 and 1107. The Nasdaq (charts five and six) faces resistance at 2115, and 2077-2080 is important support.

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