A wild day today, with huge outside days eclipsing yesterday’s range on all the indexes. The downside is that internals were poor: up/down volume, advance-declines and new highs/lows all left much to be desired, and small caps ended the day in the red. Once again, selective buying is threatening to undo a rally. Let’s see how stocks fare when tomorrow’s first-quarter GDP report is released. The Nasdaq (first chart below) has resistance at 2350-2354, 2362 and 2375, and support is 2328-2333 and 2315. The Dow (second chart) has major resistance at 11,426, and support is 11,350, 11,300 and 11,250-11,280. The S&P (third chart) has support at 1300 and 1295, and resistance is 1316, 1318 and 1320. Long bond yields (fourth chart) gave investors a break today.
