A trifecta for the bulls today, as the major indexes all broke their downtrends on rising volume (see charts below). Now they must hold those breakouts. The Nasdaq (first chart below) has support at 1821, 1810 and 1805, and resistance is 1842, 1850 and 1860. The S&P (second chart) has support at 1092 and 1087, and resistance is 1097-1100 and 1106-1110. The Dow (third chart) has support at 10,050, and resistance is 10,100, 10,175 and 10,250.
Paul Shread has covered nearly every aspect of enterprise technology in his 20+ years in IT journalism, including an award-winning series on software-defined data centers. He wrote a column on small business technology for Time.com, and covered financial markets for 10 years, from the dot-com boom and bust to the 2007-2009 financial crisis. He holds a market analyst certification.
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